ARGAN strengthens its position in Lyon with a new 38,000 sq m logistics platform delivered to BUT
Press release – Thursday 1 June 2023 – 5.45 PM
ARGAN strengthens its position in Lyon with a new 38,000 sq m logistics platform delivered to BUT
ARGAN, developer and landlord of premium warehouses, has just inaugurated BUT’s new logistics site in Janneyrias (38), a very prime location on Lyon’s Eastern Ring road and next to Lyon-Saint Exupéry Airport. With this 38,000 sq m building, ARGAN has successfully completed its first transaction with BUT and strengthened its presence in a sought-after market.
Built by JMG Partners for ARGAN, this new site is operated by BUT, a major French furniture retailer, under a long-term lease of 9.5 years.
This new platform has been developed on a land next to that occupied by the first logistics site operated by BUT since 2015. This consolidation of logistics activities, previously spread out between Janneyrias and Mions (69), about twenty kilometres away, will generate synergies in terms of transport and significant savings in CO2 emissions.
The platform, equipped with LED lighting with presence and luminosity detectors, has also a photovoltaic plant on the roof totally dedicated to the client.
With this new investment, ARGAN is strengthening its presence in a highly attractive geographical area for prime logistics. In 2019, ARGAN developed an initial 33,000 sq m site on the same business park for TEREVA.
Jean-Claude Le Lan, President of the Supervisory Board of ARGAN, comments : « Janneyrias is a prime location, with direct access to the Lyon ring road. For logistics, Lyon is a highly attractive market, where the available supply is extremely limited. It’s a great opportunity to begin this new partnership with a major company that is a leader in its market, and to strengthen our presence in the Lyon region ».
Financial calendar 2023 (Press release to be issued after the stock exchange)
- 3 July : Turnover for the 2nd quarter 2023
- 19 July : Half-yearly results 2023
- 2 October : Turnover for the 3rd quarter 2023
About Argan
ARGAN is the only French real estate company specialized in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT. As of 31st December 2022, ARGAN’s portfolio amounted to 3.5 million s qm, comprising approximately 100 warehouses located exclusively in France, valued at €4.0 billion. ARGAN is listed on Compartment A of Euronext Paris (ISIN FR0010481960 – ARG) and is included in the CAC All-Share, IEIF SIIC France and EPRA Europ indices. The company opted for the listed real estate investment companies (SIICs) tax regime since 1st July 2007.
Francis Albertinelli – CFO |
Marlene Brisset – Press Relations |
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