La Française REM picks up French business park

La Française Real Estate Managers (REM) has announced the acquisition of the Sentinel Square business park located at 221 rue Victor Hugo in La Sentinelle, in the Hauts de France, France, from vendor Boreale. Financial details were not disclosed.

The park comprises four separate and divisible buildings, recently renovated or built. As a whole, the park offers a good level of service for the well being of occupants (refectory kitchen, rest areas, fitness room, etc.). It is also planned to implement sustainable management of green spaces as well as LED lighting for the warehouse surfaces.

In total, the four buildings offer 14,968 m2 of surface area (9% of office space, 18% of business space and 73% of warehouse/logistics space) and are fully leased to 10 tenants. This acquisition was carried out on behalf of a collective real estate investment vehicle.

Thierry Molton, managing director of La Française Real Estate Managers - Retail Division, said: 'This business park, because of its strategic location for freight transport and its design with four independent buildings, should fully contribute to the pooling of rental risk and to sustaining the value of the real estate park.'


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