Pan-European logistics developer and asset manager Logistics Capital Partners (LCP) has acquired a logistics platform in the municipality of Savigny-Le-Temple (Seine-et-Marne Department) in France from its current occupier.
Financial details were not disclosed.
According to LCP, the tenant of the 70,000 m2 warehouse, located on Rue de l’Industrie, plans to move its operations to a new distribution centre in the A5 Sénart Parc.
LCP, in consultation with local authorities, will re-develop the site at the end of the current lease. With its proximity to Paris (50 km) and its direct access to the A5a highway, the 14 ha site offers a strategic location.
Estelle Vargas, LCP's director of development for France, said: 'Available logistics land in France, and more particularly in the Ile-de-France area, is tightly constrained, and so by acquiring the plot, LCP will be well positioned to offer Grade A space and a prime location to future occupiers.
'This acquisition demonstrates LCPs creativity in finding solutions to match the continued demand for logistics space in what is a progressively saturated market.'
