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LaSalle acquires logistics site near Nîmes on forward funding agreement

LaSalle Investment Management has acquired a logistics hub of more than 20,000m² on a forward-funding investment (VEFA contract) on behalf of LaSalle E-REGI.

The site is located near Nîmes, located along the corridor of vital French logistics hubs, on the crossroads of the A9 and A54 motorways. The design and construction of the site will be carried out by IDEC, and it has already been pre-marketed in its entirety.

The site is made up of ​​55,000m, and IDEC will build a Class A building of 20,230 m² composed of three blocks – two of which are dedicated to conventional storage and one more adapted to freight – and a further 420m² of office space, a maintenance workshop and a battery station.

The complex will have a rooftop photovoltaic power plant operated by a leading expert in solar photovoltaic in Europe, the URBASOLAR group. The asset is aiming for a BREEAM environmental certification at Very Good level, and its completion is scheduled for November 2021.

Uwe Rempis, fund manager of LaSalle E-REGI, said: “This acquisition is well aligned to the strategy of creating a well-balanced core portfolio, furthermore, it shows our commitment to logistics and our strategy of diversification in sectors with high growth potential.”

Beverley Kilbride, country manager of France at LaSalle Investment Management, added: “This transaction perfectly illustrates our ability to identify and secure high-quality logistics assets in a very competitive market.

“The dynamism of the French market, driven by excellent fundamentals and boosted by the rise of e-commerce, make this asset class one of our priorities for future investments.”