Valad Europe has agreed a 2,400 square metre lease with Panalux, the lighting rental company, at VALAD PARC Jean Mermoz, La Courneuve in France.
The nine year lease was agreed at a rent of EUR91 per sq m on behalf of Valad’s Parc d’Activitiés fund.
VALAD PARC Jean Mermoz is a 6,000 sq m light industrial building, built in 2011 and located between the A86 and A1 motorways with good accessibility to the Porte de la Vilette and Roissy Charles de Gaulle Airport. Panalux will join existing tenants at the building including Selecta, Sodial and France Air.
Frederic Petit, Valad Europe’s head of asset management in France, says: “Signing such a significant deal at VALAD PARC Jean Mermoz is an excellent result for the asset and reflects a strong period of asset management by the team since the start of 2013. We look forward to continuing this momentum through to the end of the year and into 2014 as improved occupier sentiment from other European countries flows through into the French market.”
Jones Lang LaSalle acted for Valad Europe.