Belgian listed property company Montea has signed a nine-year rental agreement with logistics group Overseas Development Company for 4,070 m[sup]2[/sup] of storage and office space on the Roissy-en-France site in the north of Paris.
Belgian listed property company Montea has signed a nine-year rental agreement with logistics group Overseas Development Company for 4,070 m2 of storage and office space on the Roissy-en-France site in the north of Paris.
Overseas Development, which will use the facility as a distribution centre, has an option to vacate the building after six years. The new scheme is located in the Paris Nord 2 activity park near the Charles de Gaulle airport in Roissy. Keops advised Montea on the leasing transaction.
'The French market offers favourable perspectives thanks to the quality of its industrial and logistic buildings, its critical size and the leading role France plays in logistics,' the company said, adding that it expects to increase the occupancy rate of its portfolio to 93.6% by the end of this year.
Currently, Montea has a portfolio of 380,000 m2 of space distributed across 22 sites in Belgium and a further 11 in France, where the company focuses on leading locations on the Lille, Paris and Lyon axis.
