AG Real Estate France sells its logistics building in Saint Martin De Crau (Bouches-du-Rhône) to GLP
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08 February 2022

AG Real Estate France sells its logistics building in Saint Martin De Crau (Bouches-du-Rhône) to GLP

AG Real Estate France

Handed over in 2013 by developer PRD, this logistics building with 113,000 m2 of floor space was at the time the largest logistics platform ever built in France and Europe, as part of a "turnkey" rental for Castorama.

Built in the Ecopôle logistics area of Saint Martin de Crau, AG Real Estate France is today selling the asset to the GLP group, the world leader in logistics real estate. The area covers more than 150 ha, is equipped with a rail service and has a large pool of jobs. It is a strategic foothold on the Lille/Paris/Lyon/Marseille logistics backbone, connected to the Rhone axis and the Autonomous Port of Marseille.

This building of excellence has dual environmental certification: HQE Excellent and BREEAM Good.

In 2013, this acquisition by AG Real Estate France was the first XXL operation in France in terms of investments.

Tostain & Laffineur acted as consultants for the transaction.

“This sale upholds the strategy we initiated 10 years ago in terms of the XXL prime logistics platforms and demonstrates AG Real Estate France's ability to create value by adapting to market developments. We are very proud to have supported the Castorama teams in leveraging this strategic site for their growth in France. The proceeds of this sale will also contribute to funding the pipeline of development projects that will generate growth and create value over the coming years." Thibault Delamain, Managing Director – Head of Investment and Asset Management, AG Real Estate France

“This is a strategic acquisition since it enables us to grow our presence in Saint-Martin-de-Crau with now nearly 300,000 m² in portfolio or under construction. Once again, I would like to thank the AG Real Estate teams, because this operation – completed in record time – took place in a spirit of full cooperation." Philippe Graziani, Managing Director of GLP France

2021, a great year in logistics for AG Real Estate France

2021 saw the hand-over of 155,000 m² in the form of two iconic operations in the logistics sector in France: HAVLOG, the largest logistics platform built on spec in France (92,000 m²) and rented before hand-over to JJA, and the new platform (63,000 m²) of the Seafrigo Group, world specialist in food logistics.

Having taken a full part in the development of the Le Havre port area, thus affirming its strategy in this sector for 2022, AG Real Estate France is today a key player, sensitive to this class of assets and keen to continue to invest in operations to develop or redevelop obsolete logistics areas that will have to be reinvented in a context of avoiding artificialisation of the soil.

Véronique Mathonet
AG Real Estate France

Véronique Mathonet

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