ARGAN Expands Operations in Northern France
ARGAN is on a mission to boost its presence in Northern France through the initiation of a substantial new cross-dock fulfilment centre covering 9,000 square meters. This facility is located in a well-established logistics zone that already houses ARGAN's two other warehouses, measuring 55,000 square meters and 25,000 square meters, which are currently leased to reputable companies like ARCANIA and CARREFOUR.
A Strategic Location for Growth
The new site is situated on a 6.7-hectare plot adjacent to a logistics facility rented to CARREFOUR SUPPLY CHAIN in Vendin-le-Vieil. Its strategic placement offers direct access to major transportation routes, including the A21 highway and National Road 47, making it a prime location for logistics operations in the greater Lille area.
Facility Features and Sustainability Initiatives
The future fulfilment centre is designed to include a significant cross-dock fulfilment hall of 7,400 square meters, featuring 68 loading docks. Additionally, there will be a dedicated office space of 1,200 square meters located on an upper level. In line with sustainability goals, the building will incorporate a photovoltaic power station capable of generating 150 kWp, ensuring energy efficiency and self-consumption for the tenant.
Long-Term Vision and Lease Agreements
This new facility is set to welcome a significant player in third-party logistics, with a long-term commitment evident in a mutually agreed 12-year fixed lease. This agreement emphasizes the strategic foresight of both ARGAN and the future tenant, demonstrating confidence in the enduring value of this new location.
According to Ronan Le Lan, Chairman of ARGAN’s Executive Board, “Given the rapid growth of e-commerce, the fulfilment centre format is critical to the logistics value chain. Our decision to expand with a 9,000 sq.m cross-dock facility is a clear reflection of our commitment to meet the demands of the dynamic market in an urban area with over 250,000 residents, alongside the 1.2 million people residing within a short distance in the European urban area of Lille.”
Financial Calendar: Upcoming Announcements
As we look ahead, ARGAN has scheduled important financial disclosures. Investors can anticipate the following key dates: January 3, 2025, for the net sales figures from the fourth quarter of 2024, and January 16, 2025, for the annual results of 2024. Additionally, the annual general assembly will convene on March 20, 2025.
About ARGAN: A Leading Real Estate Player
ARGAN stands as a premier French real estate firm specializing in the development and leasing of top-tier warehouses. Listed on Euronext, ARGAN is recognized for its dedication to a client-centric approach, delivering pre-leased properties tailor-made for high-caliber clients. The company's success is rooted in solid profitability and prudent debt management, reinforced by a proactive environmental, social, and governance (ESG) policy.
As of mid-2024, ARGAN boasts a robust real estate portfolio encompassing 3.6 million square meters across approximately 100 warehouses, all exclusively situated in mainland France, valued at around €3.8 billion and generating an annual rental income of about €200 million.
Frequently Asked Questions
What is the size of the new fulfilment centre?
The new cross-dock fulfilment centre will cover 9,000 square meters.
Why is the location of the fulfilment centre significant?
The site is strategically positioned near major transportation routes, facilitating efficient logistics operations.
Who is the future tenant of the fulfilment centre?
The centre will accommodate a leading third-party logistics company with a strong history in the region.
What sustainability measures are being implemented at the facility?
A photovoltaic power station generating150 kWp will be installed to promote energy efficiency.
How long is the lease agreement for the new fulfilment centre?
The lease agreement is set for a fixed term of 12 years.
