Argan buys 36,000 m[sup]2[/sup] of logistics space from Gecina

French logistics investor and developer Argan has bought a class-A logistics platform in Roissy en Brie, in the Ile-de-France region, from Gecina for an undisclosed amount.

Argan said the property provides 36,000 m² of logistics space fully leased to transport company Norbert Dentressangle and electricity group Rexel. Developed in 2002, the property consists of eight buildings each with 4,500 m² of space.

'The acquisition is part of the group's strategy to focus on class A assets situated in prime locations and fully leased for a long-term period,' the Paris-listed property firm said.

Argan has developed or acquired 83,000 m² of logistics assets in the course of 2009, compared to 74,000 m² last year, the company said. Its total portfolio amounts to roughly 633,000 m².