French logistics property developer Argan said it has been appointed to develop a 40,000 m[sup]2[/sup] logistics platform for L'Oreal in France. The high environmental quality project will be located in Roye, around 20 km from Amiens. Construction is expected to start in November 2009, with delivery scheduled for June 2010.
French logistics property developer Argan said it has been appointed to develop a 40,000 m2 logistics platform for L'Oreal in France. The high environmental quality project will be located in Roye, around 20 km from Amiens. Construction is expected to start in November 2009, with delivery scheduled for June 2010.
The site - the fourth to be built by Argan for L'Oreal - will be leased with a nine-year rental contract to the international cosmetics producer. L'Oreal was advised by BNP Paribas Immobilier.
In a statement on Friday, the French SIIC also confirmed its target of achieving EUR 30 mln in annual rents this year, an increase of almost 13% on last year's volume. The firm's development portfolio amounted to 576,000 m2 at the end of June 2009. Argan also said it will deliver a 21,000 m2 logistics platform in Tournan en Brie to Bosch Siemens in the second half of 2009.
