French REIT Foncière des Régions will develop a new logistics platform between Paris and the Roissy airport for Samada, the logistics subsidiary of Monoprix.
French REIT Foncière des Régions will develop a new logistics platform between Paris and the Roissy airport for Samada, the logistics subsidiary of Monoprix.
Monoprix' Samada will occupy the building in Garonor after delivery in the fourth quarter of 2013, under a firm 12-year lease.
The listed property group said the project, which will ultimately cover a surface area of 51,000 m2, 'marks a new phase in the redevelopment of Garonor, the first urban logistics hub in France'.
The redevelopment of the Garonor site started in 2009, and has accelerated in recent months with the signing last year of three turnkey projects. Agora Distribution, part of Eram Group, took a firm seven year lease for 16,385 m2; transport company Vaquier signed a firm nine-year lease for 9,120 m2 while AFT IFTIM concluded a 12 year lease for a further 1,765 m2.
'These four new leases fall under the key accounts partnership concept of FdR,' the company said in a statement. They will represent €5.9 mln of additional lease revenues over a full year.
