Mitiska REIM acquires its first SME business park in France
Mitiska REIM, on behalf of the MEREP Light Industrial Fund, has acquired Village Économique Montataire, an income-producing SME business park adjacent to the city of Creil in the Greater Paris region.
Situated on an urban infill location close to the main departmental road connecting Compiègne with the northern L’Oise region, the business park has an existing gross leasable area (GLA) of 22,000 square meters (237,000 square feet) comprised of around 60 SME units and offices ranging in size from 30–3,000 square meters (320–32,300 square feet).
As part of its value-add strategy, Mitiska REIM plans to refurbish the existing buildings on site and upgrade them to achieve a BREEAM certification of Very Good. Mitiska REIM is also investigating the potential to develop an additional 8,000 square meters (86,000 square feet) GLA of SME units on the remaining land of the 7.1-hectare (17.5-acre) site.“The acquisition of Village Économique Montataire is the first acquisi