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.
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 m2 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 m2 of logistics space, 994 m2 of offices, a technical area of 760 m2 as well as 88 parking places. Completed in June 2007, the asset is completely let to Recall France with a 12-year lease.
ING Real Estate was advised by Linklaters, Deloitte & Arsene Taxand. White & Case, Winston & Strawn and Jones Lang LaSalle acted for Gazeley. CalEast Global Logistics was advised by Jones Day.
