SIIC-listed Gecina has reached agreement on the purchase of a 26-hectare plot of land from the development company IMC Promotion in the north of the greater Paris region. The site will house a 90,000m[sup]2[/sup] logistic park developed by CIBEX, Gecina said in a press release. The financial details of the transaction were not disclosed.
SIIC-listed Gecina has reached agreement on the purchase of a 26-hectare plot of land from the development company IMC Promotion in the north of the greater Paris region. The site will house a 90,000m2 logistic park developed by CIBEX, Gecina said in a press release. The financial details of the transaction were not disclosed.
The centre, connected to a number of major highways, including the Francilienne and the A1 freeway, is located next to several other logistics parks around Rossy-Charles de Gaulle Airport. The project includes the development of four buildings within a closed logistics park. Delivery will take place in two phases, with the first 50,000 m2 two buildings scheduled for delivery at the end of 2008 and other 40,000 m2 at the end of 2009.
Gecina's investments since the end of 2005 come a total of nearly 870,000 m2 of logistics space, including some 357,000 m2 under development. The French company has assets valued at EUR 9.5 bn and is listed as a French real estate investment trust (SIIC) since 2003.