Commerz Real has acquired a 62,000-m[sup]2[/sup] logistics platform in Mer near Orléans in France from Concerto Développement, a subsidiary of French listed group Affine. Colliers International advised the buyer. The transaction price amounted to EUR 33 mln, excluding transfer taxes, and is in line with the appraisal value at end-2009.
Commerz Real has acquired a 62,000-m2 logistics platform in Mer near Orléans in France from Concerto Développement, a subsidiary of French listed group Affine. Colliers International advised the buyer. The transaction price amounted to EUR 33 mln, excluding transfer taxes, and is in line with the appraisal value at end-2009.
The platform, delivered and leased in October 2009 with a nine-year rental term to But international, is the first stage of the construction of the Portes des Chambord integrated development zone (ZAC). A second stage, which involves the construction of three buildings with a total surface area of 65,000 m2, is planned and will be launched once marketing of the properties is completed.
Britta Secretain-Guibout of Colliers UFG PM said that the transaction is a 'positive sign' for the French logistics market, which has had a tough ride for the past two years.
'It has been a very difficult market, with virtually no activity,' she told PropertyEU. 'We don't expect investors to come back to the logistics sector until late 2011 or 2012. For now, only local players or market experts are taking a chance on logistics.'
