Westcore Europe has purchased a 25,700 sq m industrial property, on a 99,000 sq m site, in the eastern suburb of Dijon in France, from owner-occupier Japy-Tech, a leading manufacturer in the dairy industry, in a sale and leaseback transaction.
The property comprises a 73,000 sq m site with a mix of industrial and ancillary office space. The property has been taken on a long-term lease by Japy-Tech, and an adjacent plot of land totalling around 26,000 sq m, which provides an opportunity to deliver up to 12,000 sq m of potential development.
Marc Brutten, Founder and Chairman of Westcore Europe, said “This is our first acquisition in France and represents an exciting milestone in the expansion of Westcore Europe. The transaction provides us with a high-quality income stream in a promising commercial region of France.
“The acquisition also provides numerous opportunities to add value through a programme of proactive asset management, undertaken by our highly experienced local asset management and leasing teams.”
Japy-Tech, sold the property as part of a larger strategy to consolidate its industrial portfolio.