ARGAN launches the rehabilitation and extension of the GEODIS fulfillment center in Toulouse
Press release – Thursday 27 April 2023 – 5.45 pm
ARGAN launches the rehabilitation and extension of the GEODIS fulfillment center in Toulouse
ARGAN is supporting the growth of its tenant GEODIS by launching the extension of its fulfillment hub in Bruguières (31) to 13,400 m². This project is also an opportunity to improve the existing building and to establish a long-term partnership with GEODIS through a new 12-year lease.
GEODIS is a world leader in transport and logistics, number 1 in France for deliveries within 24 to 48 hours, specialising in last-mile delivery.
Since 2003, the company has set up its regional hub in Bruguières from where it operates for the Haute-Garonne department, and also supplies the departmental platforms of the South-West of France. This site is ideally located for logistics and courier activities, a few kilometres north of Toulouse and along the A62 motorway.
With the increase in its business volume, GEODIS needed additional space.
In discussions with ARGAN, the option of extending the existing site was chosen, allowing the courier service to gain 2,200 m² and thus increase its total surface area to 13,400 m². The shape of the land did not allow for a traditional extension of the building in its length, so the ARGAN and GEODIS teams set up an innovative extension plan in its width, while allowing the site to continue to be fully operational during the construction phase.
The extension of the site will be an opportunity to renovate the existing building, in particular the 1,900 m² office block, the road and the dock equipment. All of this work will significantly improve the working environment for GEODIS employees.
This new development will also contribute to a significant reduction in the energy consumption with the installation of a photovoltaic plant for self-consumption and a Building Management System (BMS). In addition, the iodide lamps will be replaced by intelligent LED lighting controlled by presence and luminosity.
The delivery of the extension will mark the start of a new long-term lease of 12 years, which underlines the confidence and the long-term partnership between GEODIS and ARGAN.
With this new development, the real estate company also confirms its ability to support its clients in their growth projects and its focus on improving its property portfolio.
Financial calendar 2023 (Press release to be issued after the stock exchange)
- 3 July : Turnover for the 2nd quarter 2023
- 19 July : Half-yearly results 2023
- 2 October : Turnover for the 3rd quarter 2023
About Argan
ARGAN is the only French real estate company specialized in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT. As of 31st December 2022, ARGAN’s portfolio amounted to 3.5 million s qm, comprising approximately 100 warehouses located exclusively in France, valued at €4.0 billion. ARGAN is listed on Compartment A of Euronext Paris (ISIN FR0010481960 - ARG) and is included in the CAC All-Share, IEIF SIIC France and EPRA Europ indices. The company opted for the listed real estate investment companies (SIICs) tax regime since 1st July 2007.
| Francis Albertinelli - CFO Aymar de Germay – General Secretary Phone : +33 1 47 47 05 46 E-mail : | Aude Vayre – Press Relations Phone : + 33 6 14 64 15 65 E-mail : |
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