Paris-listed logistics property developer and investor Argan said on Tuesday that it has acquired a logistics site near Paris for an undisclosed amount from the Australia-listed ING Industrial Fund. The property located in Gonesse, was developed in 2004 and provides 22,000 m[sup]2[/sup] of space fully leased to Movianto, a subsidiary of German group Celesio, which is active in the distribution of pharmaceutical products. Following this purchase, Argan's portfolio consists of 577,000 m[sup]2[/sup] of space across 33 sites in France. The French SIIC said the portfolio is fully let with a remaining average term of 5.9 years.
Paris-listed logistics property developer and investor Argan said on Tuesday that it has acquired a logistics site near Paris for an undisclosed amount from the Australia-listed ING Industrial Fund. The property located in Gonesse, was developed in 2004 and provides 22,000 m2 of space fully leased to Movianto, a subsidiary of German group Celesio, which is active in the distribution of pharmaceutical products. Following this purchase, Argan's portfolio consists of 577,000 m2 of space across 33 sites in France. The French SIIC said the portfolio is fully let with a remaining average term of 5.9 years.
