Listed industrial property company Prologis is to develop a 25,000 m2 build-to-suit facility for cosmetics group L'Oreal north of Paris.
Listed industrial property company Prologis is to develop a 25,000 m2 build-to-suit facility for cosmetics group L'Oreal north of Paris.
The development, located at Prologis' Park Vemars, will be occupied by L'Oreal's French consumer products division. It will be the sixth facility at the park, which offers direct access to Roissy-Charles de Gaulle Airport. The building is aiming for 'very good' BREEAM sustainability certification.
L'Oreal is an existing Prologis customer with facilities in Poland and the Czech Republic.
'We continue to see a scarcity of available Class-A space driving build-to-suit solutions in Europe and are delighted to strengthen our established relationship with L'Oreal,' said Philip Dunne, president of Prologis Europe. 'This transaction further highlights the strategic value of our land bank as well as our ability to meet specific logistics requirements,' he added.
Prologis had about 2.8 million m2 of logistics and distribution space in France at end-June 2013.
