Industrial real estate operator Prologis has acquired a logistics facility in the eastern French city of Lyon.
Industrial real estate operator Prologis has acquired a logistics facility in the eastern French city of Lyon.
The 44,000 m2 building at Prologis Park Isle d’Abeau was acquired through Prologis European Properties Fund II (PEPF II) from Sofade, a subsidiary of Dentressangle Initiatives. Financial details were not disclosed.
The acquisition boosts Prologis’ portfolio at L’Isle d’Abeau to 20 buildings, totalling 537,800 m2 with an occupancy rate of 99.8%.
‘L’Isle d’Abeau is one of France’s prime distribution areas providing excellent transport infrastructure and very low vacancy rates,’ said Philip Dunne, president of Prologis Europe. ‘This acquisition complements our existing asset base and strengthens our presence in this active logistics market.’
PEPF II was established in August 2007 and is one of four European co-investment funds managed by Prologis. As of 31 December 2013, PEPF II's portfolio totalled 5.8 million m2.