Distributor Scoops Up 415,000 SF

MARSEILLES, FRANCE-P Point–a distributor of construction materials–is taking 415,000 square feet in an under construction facility here for a long-term lease. ProLogis’s 624,000-square-foot property is one of nine buildings in the Park Clesud complex. Seven of the buildings are complete, while two of the properties–which includes P Point’s lease–are currently under construction and set to deliver in the first half of 2009. The distribution complex sprawls 2.4 million square feet in southern France. The price and terms of the lease were not disclosed.

“Clesud sesrves as an important hub for distribution because of its centralized location and access to multimodal transportation with the majority of demand coming from the manufacturing and logistics management industries,” says Ranald Hahn, managing director for ProLogis southern Europe, in a release.