AEW has agreed to forward-fund the development of a new class A logistics platform in Cavaillon, France, on behalf of a mandate for the French public service additional pension scheme (ERAFP). This acquisition from Faubourg Promotion enhances the regional diversification of ERAFP’s existing logistics portfolio in France.
Once completed, the platform will feature 21,700 square meters (233,600 square feet) of space built to high specifications, fully pre-let to Aroma-Zone, a rapidly growing French company specialized in the organic cosmetics sector, under a 10-year lease. The asset will also include 1,200 square meters (12,900 square feet) of offices and quality laboratories designed to support the occupier’s operations and will be equipped with a cold storage area of 2,000 square meters (21,500 square feet), maintaining temperatures between 2°C and 8°C (36°F and 46°F).
Faubourg Promotion (IDEC Group) will act as the developer for the asset, which is expected to
