German property investor Deka Immobilien has exchanged contracts to secure the purchase of a new building project in the Paris metropolitan region of Île-de-France for €160 mln. The seller is Gemfi, the development arm of the French real estate company Gicram Groupe.
The asset, an e-commerce fulfilment centre, will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa.
Located in Montereau-sur-le-Jard, Project Taylor will offer more than 141,000 m2 of leasable space, 1217 parking spaces for cars and 66 parking spaces for heavy goods vehicles. It is fully leased under a long-term lease to the highly profitable online fashion retailer Zalando that intends to supply all of France from this location.
The e-fulfilment centre, which is currently being built to meet the tenant's needs, is scheduled for completion in November 2023. It is located in the Zone d'Aménagement Concerté (ZAC) du Tertre de Monterau and is on the edge of the second-largest Paris logistics market "Grand Paris Sud".
