GLP acquires a 39,700 sq m logistics warehouse in France

GLP has announced the acquisition of a 39,700 sq m Class A warehouse from Legendre Group, an international construction, real estate and energy group. The building is located in the commune of Derval, in the Loire Atlantique region, equidistant from the cities of Rennes and Nantes.

The warehouse is operated by ID Logistics on behalf of DSC, a subsidiary of the Saint-Gobain Group, which has specialised in the wholesale of plumbing and heating supplies for 20 years. This warehouse is the only DSC logistics platform in western France, located in the Derval logistics area, which serves more than 80 shops in the Brittany, Pays de la Loire and Centre-Val de Loire regions.

Completed in 2013 and extended in 2019, this 39,700 sq m logistics warehouse is made up of six cells, each measuring approximately 6,000 sq m. Land in this region is scarce and in high demand, and the building benefits from a strategic location on the RN1, 37,50km south of Rennes and 48km north of Nantes. These two metropolitan areas have a combined total of over 1.2m inhabitants. GLS states this is a successful and fast-growing regional axis with several logistics zones and new developments.

Philippe Graziani, Managing Director of GLP France, comments: “This acquisition enables us to strengthen our presence in the regional markets of western France, continuing our strong momentum in the country in recent months. GLP now manages nearly 1.4m sq m of logistics buildings in France, having doubled the size of our portfolio in just one year. We will continue pursue this proactive strategy, both in terms of investment and development, focusing on the main regional markets and benefitting from strong rental dynamics.”

Source: GLP