Launch of a build-to-suit project of ca. 18,000 m² in Camphin-en-Carembault (FR)
In December 2014, Montea and Panafrance concluded a partnership agreement for the development of a logistics platform on 103,000 m² in Camphin-en-Carembault. The land has a unique location to the south of Lille on the A1 motorway in the heart of the Lille-Paris-Lyon logistics triangle. Two distribution centres of 18,000 m² and 24,000 m² (with a total of 42,000 m²) can be developed on the land.
In the meantime, for phase 1 of the project, Montea will develop a distribution centre of ca. 18,000 m², that can be divided into 3 units. DSM Food Specialties France SAS will rent 12,000 m² (2 of the 3 units) for a fixed period of 9 years. DSM Food Specialties (DSM Group) is specialised in the production and export of enzymes for the food industry (www.dsm.com).
The development will be operational in the first quarter of 2018. The transaction represents a total investment value of € xx million. Upon letting the third unit, which Montea expects to conclude before the building is delivered in the beginning of 2018, this distribution centre will generate an additional rent of € 740,440.
Negotiations with candidate tenants are also in progress for the development of the second building (24,000 m²).
Sale & Lease back of an industrial building of ca. 1,500 m² in the Paris region – Investment value: € 1.93 million
Montea is investing in an industrial building in Alfortville of ca 1,500 m² with a strategic location at the foot of the A86 motorway (Pompadour) just a few minutes of the western (A4) and southern (A6) motorway. The building comprises ca. 1,100 m² of storage space and 400 m² office space and mezzanines.
This investment is in the framework of the extension of the existing portfolio in the Paris region, where Montea has invested €29.7 million by purchasing 6 completed rented industrial buildings near Paris Charles De Gaulle airport and the Paris Region.
A lease agreement has been concluded with Brard, a woodworking company (www.brard-entreprise.fr) for a term of 9 years (first break after 6 years).
This transaction represents a total investment value of €1.93 million. It will generate an additional rent of € 0.16 million per year.
The projects above are financed by funds that Montea recently obtained from the sale of 3 properties in France (net sale price € 60.4 million).