Prologis, Inc. today announces it has signed a build-to-suit agreement totaling 270,000 ft² (approx. 25,083 m²) in France with L’Oréal, the French cosmetics group.
The development, located at Prologis Park Vémars, will be occupied by L’Oréal’s French consumer products division (L’Oréal France Grand Public). This will be the sixth facility at the park, which offers direct access to Roissy-Charles de Gaulle Airport. The building is being designed to receive ‘very good’ BREEAM certification.
L’Oréal is an existing Prologis customer with facilities in Poland and the Czech Republic.
“We continue to see a scarcity of available class-A space driving build-to-suit solutions in Europe and are delighted to strengthen our established relationship with L’Oréal,” said Philip Dunne, president, Prologis Europe. “This transaction further highlights the strategic value of our land bank as well as our ability to meet specific logistics requirements.”
Prologis is the leading provider of industrial real estate in France, with approximately 30 million ft² of logistics and distribution space as of June 30, 2013.