Kajima, the pan-European property investor, developer, and asset manager, has signed its first deal in France, acquiring an existing logistics hub of five buildings near the northern French city of Orléans.
Financial details were not disclosed.
The complex comprises 49,000 m2 of logistics space, half of which is currently vacant, providing an opportunity for a two-phase redevelopment project.
Over the next few years, the entire site will be rebuilt in line with strong ESG credentials to deliver two class A logistics buildings of 30,000 m2, the firm said.
Eleanor Bolitho, senior portfolio manager at Kajima, said: 'This is a hugely exciting deal for Kajima, as we make our first move into the French logistics markets.
'Building on our strong track record of investing in and managing successful logistics hubs across the continent, we are looking forward to bringing our development expertise to maximise the potential of this well-located project.'
Kajima’s site is in Pôle 45, a significant industrial and logistics hub just 11 km northwest of Orléans, well-connected to both Paris and international markets.
Kajima was advised by Noter and BNP Paribas Real Estate, whilst the seller was advised by Lazaygues.
