Belgian warehousing group Montea has leased 8,800 m[sup]2[/sup] of storage and office space in Savigny-Le-Temple, near Paris to the international toy distribution group Challenger. The deal - one of 2009's largest leasing transaction in southern Paris - has a duration of nine years, with the first six years on a fixed rental term.
Belgian warehousing group Montea has leased 8,800 m2 of storage and office space in Savigny-Le-Temple, near Paris to the international toy distribution group Challenger. The deal - one of 2009's largest leasing transaction in southern Paris - has a duration of nine years, with the first six years on a fixed rental term.
The facility provides 8,169 m2 of storage space and 632 m2 of office space. The rental agreement, which was managed by real estate agency Keops, has a gross starting yield of 9.9%. Challenger already occupied some 3,800 m2 of space at Paris Nord 2, another property of Montea, but was looking to expand its business in the region. As a result, Montea offered the company the possibility of terminating its existing rental agreement and moving to the 8,800 m2 asset in Savigny-Le-Temple.
Montea said it is currently finalising the leasing process of the building previously housing Challenger International.
The transaction with Challenger International brings the occupancy rate within the logistics platform in Savigny to 60%.Other occupants include BNP Real Estate, Entrepôts-On-Line and Keops.
