Deka Immobilien has exchanged contracts to secure the purchase of a logistics property in the Paris metropolitan region. Groupe Panhard, with its headquarters in France, is the seller and developer. The property is intended to be included in the WestInvest TargetSelect Logistics sector fund, which is aimed at institutional investors. The parties agreed not to disclose the purchase price.
The development project in Nanteuil-le-Haudouin comprises around 92,500m² of leasable space. The seller has provided a long-term rental guarantee for the logistics property, which is expected to be completed in the third quarter of 2022. Upon completion, the property will receive the British BREEAM “Very Good” certification for sustainable construction.
The property’s sustainable design includes a generous number of charging stations for electric vehicles, a planned photovoltaic system and LED lighting. The property is being built around 20 kilometres north-east of Europe’s largest cargo airport (Paris Charles de Gaulle) and is located within the Dorsal logistics corridor in France. This transaction will enable the fund management of WestInvest TargetSelect Logistics to secure a property in an established location to meet the high demand for large-scale, modern logistics properties in the greater Paris area.
