Garbe Industrial Real Estate, a logistics-focused firm, has revealed plans to add further properties to its French portfolio.
Garbe currently holds five existing and new-build structures in France, with another three in the development pipeline.
Michaël Vidamant, managing director Garbe Industrial Real Estate France, said: 'Garbe is a strategic partner for property developers and investors in France. Our plan is to acquire five project developments each year and to exploit opportunistic investment chances. The focus here is on future-proof sustainable assets.'
At the moment, three projects with a combined floor area of around 100,000 m2 are under development in Lambres-Lez-Douai, Rennes and Laval respectively.
According to Garbe, the European logistics real estate market is still very underdeveloped, especially compared to the US.
In France, the logistics floor space stock is 0.8 m2 per capita, lower than the European average of 0.9 m2.
Said Christopher Garbe, managing partner of Garbe: 'We are aware of considerable potential for the development of logistics real estate in France, and we will expand our commitment in this area in the coming years.
'Indeed, we are planning further growth in other European countries. We not only offer attractive opportunities to local tenants, but through our pan European strategy we can also support our German occupiers with their European expansion.'
The Laval property, covering 38,000 m2 has been fully prelet to Tereva, a major French industrial company. The building is scheduled for completion by April 2025, targeting the BREEAM Very Good standard.
The other two properties represent speculative developments that will be completed in the spring of 2025, comprising a 29,000 m2 asset in Lambres-Lez-Douai and a property near Rennes covering 27,000 m2. Both are targeting the BREEAM Excellent standard.
