Paris-listed logistics property developer and investor Argan said on Tuesday that it has acquired a logistics site near Paris for an undisclosed amount from the Australia-listed ING Industrial Fund. The property located in Gonesse, was developed in 2004 and provides 22,000 m[sup]2[/sup] of space fully leased to Movianto, a subsidiary of German group Celesio, which is active in the distribution of pharmaceutical products. Following this purchase, Argan's portfolio consists of 577,000 m[sup]2[/sup] of space across 33 sites in France. The French SIIC said the portfolio is fully let with a remaining average term of 5.9 years.
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