Prologis signs 270,000 sq ft build-to-suit agreement with L’Oreal in France
Prologis has signed a build-to-suit agreement totalling 270,000 square feet in France with L'Oreal, the French cosmetics group.
The development, located at Prologis Park Vemars, will be occupied by L'Oreal's French consumer products division (L'Oreal France Grand Public). This will be the sixth facility at the park, which offers direct access to Roissy-Charles de Gaulle Airport. The building is being designed to receive "very good" BREEAM certification.
L'Oreal is an existing Prologis customer with facilities in Poland and the Czech Republic.
"We continue to see a scarcity of available Class-A space driving build-to-suit solutions in Europe and are delighted to strengthen our established relationship with L'Oreal," says Philip Dunne, president, Prologis Europe. "This transaction further highlights the strategic value of our land bank as well as our ability to meet specific logistics requirements."
Prologis is a leading provider of industrial real estate in France, with approximately 30 million square feet of logistics and distribution space as of 30 June 2013.