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Argan Delivers a 18,000 sqm Logistic Platform to Nortene Home Depot

On Wednesday, Argan delivered a new 18,000 sqm logistic platform to Nortene Home Depot, located near the A11 highway between Le Mans and Angers. The site, certified as Autonomous and producing its own energy, reflects Argan's approach of combining delivery responsiveness with advanced environmental standards.


Argan Delivers a 18,000 sqm Logistic Platform to Nortene Home Depot

Staged Delivery to Meet Urgency

Argan and its partners delivered this platform in successive stages within short deadlines, allowing Nortene Home Depot to begin operations even before the completion of the construction. The first stage was made available at the end of 2025, ten months after the commencement of the works.

Nortene Home Depot, a European leader in the distribution of garden products and outdoor furnishings, operates this site under a twelve-year firm lease. The location in the Pays de la Loire, midway between Angers and Le Mans and close to the French headquarters of the group, allows the company to optimize its logistics chain and support its growth.

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In line with the Autonomous label developed by Argan, the warehouse incorporates a 300 kWp photovoltaic power plant on the roof coupled with 200 kWh storage batteries, ensuring the site's energy supply for lighting and heating. High-performance electric heat pumps complement this equipment.

This set of devices allows for a tenfold reduction in the site's CO₂ emissions. The residual balance is offset by a reforestation plan conducted in Cestas, Gironde, making the site carbon neutral during its operational phase.



Sector Foncières / REITs › Immobilier commercial / foncières


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Context

Period
  • Period: 9M 2026
Key reported figures
  • Revenue: 166,2 millions d'euros
  • Quarterly revenue: 166,2 millions d'euros
Guidance from the release
  • raising its full-year 2026 rental income target
Risks mentioned
  • Dépendance vis-à-vis du timing de livraison des trois projets restants pour atteindre la cible annuelle
  • Risques de retard ou de révisions de coûts sur les projets en cours
  • Évolution des conditions économiques et du marché immobilier français affectant les rendements futurs
Opportunities identified
  • Seven developments delivered in 2026 with more than €150 million invested, generating strong lease contracts with long-term tenants
  • Three additional projects scheduled for remainder of 2026 for Jacky Perrenot, new client in Sorigny, and Jung Logistique
  • 99.9% EPRA occupancy rate demonstrating strong market demand and asset quality
Outlook / guidance
  • Expected revenue: 222 millions d'euros
  • Management commentary: ARGAN rehausse à nouveau son objectif annuel pour les revenus locatifs au titre de 2026 et vise au moins 222 M€, soit une progression de + 5 % par rapport à 2025.

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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