CBRE Global Investors, on behalf of the European Industrial Fund (EIF), has acquired ZAL Toulouse for €23 mln. The vendor was Consorcio de Parques Logisticos (CPL) of the Saba group.
The 30,000 m² grade A asset is located in the province of Haute Garonne, just 30 km from Toulouse by the A62 motorway and 10 km from the intersection with the A20 (Paris) highway. The asset is let to several tenants. The acquisition also includes 100,000 m² of land bank and EIF has signed a development contract with GSE for a 20,000 m² speculative warehouse to be delivered in the first half of 2016.
Pierre-David Baylac, Fund Manager EIF, CBRE Global Investors said:
“Toulouse is a very resilient market, with almost no available Grade A availability and we believe it is one of the most promising markets to launch a speculative building. The project is very flexible and offers a combination of 4,500 m² and 6,000 m² units to tenants. In addition, we hold an approved building permit to develop a further 30,000 m² for a built-to-suit project or a second stage speculative development.”
Source: CBRE
