A joint venture of Wal Mart's warehousing unit Gazeley and real estate group CalEast Global Logistics has announced the sale of a 23,819 m[sup]2[/sup] logistics complex located in the G. Park Canly dans l'Oise, 70 km north of Paris, to ING Real Estate European Industrial Fund (ING REEIF). The financial details of this transaction were not disclosed. The property consists of 22,066 m[sup]2[/sup] of logistics space, 994 m[sup]2[/sup] of offices, a technical area of 760 m[sup]2[/sup] as well as 88 parking places. Completed in June 2007, the asset is completely let to Recall France with a 12-year lease.
Premium subscriber content – please log in to read more or take a free trial.
