MGPA, the private equity real estate investment advisory company, and developer Concerto, have let 43% of their logistics park development in Lille.
Logistics provider Group Bils Deroo, for its subsidiary Simastock, has taken 18,000 sq m (193,752 sq ft) of the 42,000 sq m (452,088 sq ft) Logiffine logistics park in the Parc d’Activités des 4 Vents in Hem, near Lille. Group Bils Deroo has signed up for a nine year lease and will occupy three out of the seven units on the park.
MGPA, on behalf of its managed fund MGPA Europe Fund II set up the joint venture with Concerto in 2006. MGPA Europe Fund II holds a majority stake in Logiffine.
Alex Jeffrey, MGPA CEO for Europe, said: ‘There has been a real gap in the market for high quality logistics facilities that are well located for transport serving destinations not only in France but all of Europe. We will continue to work closely with Concerto whose experience in developing logistics parks is invaluable for this venture.’
CB Richard Ellis has advised both sides. The rent was undisclosed.