Westcore Europe has purchased a 25,700 sq. m. (~277,000 sq. ft.) industrial property in the eastern suburb of Dijon in France, from owner-occupier Japy-Tech. A leading manufacturer in the dairy industry, Japy-Tech completed a successful sale and leaseback transaction with Westcore Europe for the 99,000 sq. m. (1.065 million sq. ft.) site.
A mix of industrial and office space occupies 73,000 sq. m. (~786,000 sq. ft) of the property. An adjacent plot totaling around 26,000 sq. m. (~280,000 sq. ft.), provides an opportunity to deliver up to 12,000 sq. m. (129,000 sq. ft.) of future development.
The property is located within a 15-minute drive from central Dijon, and has excellent accessibility by high-speed train and major roadways which link Dijon to Paris, Germany, and Geneva.
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.”
Japy-Tech, represented by Hicham Berrada and Philippe Breiss, sold the property to consolidate its industrial portfolio.
As reported by ReporterByte, Westcore Europe sourced the deal through their local acquisition team led by David Wiebenga. Financing was provided by Caisse d’Epargne Bourgogne Franche-Comté. Westcore Europe was advised by Kramer Levin (tax), JOUFFROY & FILEAS (notary), EXPRET (financing), and Arthur Loyd Dijon (market).
Read more in French on CFNews Immo or in English on Property News or Business Immo.
