European and Asia private equity real estate firm MGPA and French logistics development partner Concerto have let almost half of their project near Lille in France.
Logistics operator Group Bils Deroo has agreed to take 43 percent of Logiffine park, which covers a total of 42,000 square metres. Group Bils Deroo is leasing three out of the seven units on the site for nine years, said MGPA.
MGPA invested in the asset in 2006 out of its Europe Fund II. The fund owns a majority stake in the project.
Chief executive in Europe, Alex Jeffrey, said in a statement: “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.”