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Sign in Sign up for a FREE subscriptionDeka Immobilien invests €160m in logistics project in France
Deka Immobilien has exchanged contracts to secure the purchase of a new building project in the Paris metropolitan region of Île-de-France for €160 million ($167 million).
The seller is Gemfi, the development arm of the French real estate company Gicram Groupe. The e-commerce fulfilment centre will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa.
Project Tailor in Montereau-sur-le-Jard offers more than 141,000 square meters (1.5 million square feet) of leasable space, 1217 parking spaces for cars and 66 parking spaces for heavy goods vehicles. It is fully leased under a long-term lease to the highly profitable online fashion retailer Zalando which intends to supply all of France from this location. The e-fulfilment centre, which is currently being built to meet the tenant's needs, is scheduled for completion in November 2023.
It is located in the Zone d'Amenagement Concerte (ZAC) du Tertre de Monterau and is therefore on th
