Gecina acquires logistics warehouse in south of France (FR)

GECINA is continuing to develop its real estate portfolio in the south of France (Marseille agglomeration), with the acquisition of a second warehouse covering some 30,000 m² (delivered in 2006) in the Ecopôle logistics park in Saint-Martin de Crau.

This investment, based on a sale and lease-back operation with Maisons du Monde, is also combined with a long-term lease. It follows on from a first similar transaction carried out with Maisons du Monde in October 2007 for a comparable building. Both buildings were built by the developer GEMFI-GICRAM.

These facilities, located at one of the Marseille Region's main logistics sites, benefit from an excellent position thanks to their proximity to France's number one shipping port, as well as direct rail and road access.

This new asset has further strengthened GECINA's presence in the Provence-Alpes-Côte d'Azur Region - on the main Lille-Paris-Lyons-Marseille route - France's fourth largest logistics centre. A major player on this segment, GECINA now has a logistics portfolio that represents nearly 810,000 m² of existing assets and over 433,000 m² of development projects throughout France following this transaction.

On these two acquisitions, GECINA has been advised by the Oudot et Associés notary's office and the Bredin Prat and CMS Bureau Francis Lefebvre law firms.

Source: GECINA