The CBRE Industrial Fund (EIF) has begun the development of the last phase of logistics park La Porte des Champs in France.
The 26,500 m2 development is located next to three other logistics buildings that were acquired by EIF in 2009.
'Since the fund re-opened in 2014, it has acquired 15 assets in Europe, of which nine are in France,' commented Pierre-David Baylac, fund manager of EIF.
He added: 'We are looking forward to working with Panhard Group on this high quality project to complete the park.'
The new warehouse is expected to be ready by the end of 2017, targeting a 'Very Good' BREEAM certification. Once completed, the total lettable area of all four buildings across the park will amount to 110,000 m2.
Les Porte des Champs is situated in the French corridor, in the city of Survilliers, 30 km north of Paris’s ring road.
The acquisition was financed by ING.
CBRE Global Investors was advised by Monassier & Associés and Batyom as a technical advisor.
