X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PARIS-Kingfisher subsidiary BUT has signed up as the first occupier at Magna Park Pagny, the 360-acre distribution park planned by Wal-Mart’s European property arm Gazeley for a strategic site between Beaune and Dijon in Burgundy.

BUT will occupy a 24 000 sq m (258,000 sf) unit scheduled for completion in July 2004, paying a rent of €45.50 per sq m ($5 per sf) for a nine year lease. The unit will kick-start construction on the 300 000 sq m (3.25 million sf) Phase 1 of the scheme.

Situated close to the junction of the A31, A36 and A6 motorways, Magna Park Pagny is strategically positioned to link Paris and the Channel ports to the north west, Benelux and Germany to the north east and Lyon and Marseille to the south. A rail freight link also connects the site directly to the international rail network.

Since Gazeley announced lans to export its Magna Park concept from the UK, it has acquired three sites in France, with sites at Arras in northern France and Fos on the south coast near Marseile in addition to Pagny. In addition, schemes are already underway or planned in Germany, Belgium and Spain.

Ian Worboys, Directeur Général of Gazeley France and Belgium said: “We’re delighted to welcome BUT to Magna Park Pagny. BUT is a leading French retailer with the need for high quality logistics facilities. Magna Park Pagny offers an ideal location as well as excellent, trimodal transport links, allowing BUT to serve its extensive network of stores across France and Europe.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.