ARGAN Achieves 100% Occupancy Rate After Signing a 32,000 sqm Lease in Essonne
ARGAN announces the signing of a 9-year lease with JS LOGISTICS for 32,000 sqm at its Coudray-Montceaux site in Essonne. This lease brings the occupancy rate of the real estate company's portfolio back to 100%, according to a statement released on Tuesday, March 10.
JS LOGISTICS, a Subsidiary of China's ZONGTENG Group, Takes Up Residence
JS LOGISTICS, a subsidiary of the Chinese ZONGTENG group specializing in warehousing and logistics for e-commerce, is leasing the available 32,000 sqm at the Coudray-Montceaux site. This complex of two buildings totals 163,000 sqm. Located in the southern part of the Île-de-France region with direct access to the A6 highway, this marks the fourth Île-de-France location for JS LOGISTICS and its first in the southern part of the region. The company, which entered France in 2018, handles various types of supplies, as well as furniture and DIY products for several clients. With this new location, JS LOGISTICS now operates nearly 100,000 sqm in Île-de-France.
A 9-Year Lease That Reinforces ARGAN's Portfolio
The lease signed extends over 9 years, including 6 firm years. This agreement allows ARGAN's portfolio, consisting of a hundred warehouses representing 4 million sqm, to return to a 100% occupancy rate. Ronan Le Lan, Chairman of the Executive Board of ARGAN, attributes this performance to the company's choice to manage leasing internally, citing the field proximity of its property and asset managers as a key success factor. The transaction was conducted with the assistance of CBRE.
