An off-plan agreement has seen AG Real Estate France acquire a Class A logistics centre spanning nearly 38,900 m² in Saint-Aubin-sur-Gaillon, within Normandy’s Eure department.

The deal forms part of a sale and leaseback arrangement with Martin Belaysoud Expansion group, which reaches its 200th anniversary in 2029. Construction distribution subsidiary Téréva will occupy the entire facility under a 12-year fixed-term lease for a property under construction (BEFA). The new hub is designed to strengthen Téréva’s national distribution network.

Occupying an 11-hectare site at Les Houssières, the scheme provides around 38,900 m² of warehouse space split across five units and includes 56 loading bays. Situated on the Seine corridor under an hour from Paris, the location allows distribution across northern France, the Île-de-France region and Normandy ports.

Building work is slated to start in late 2026, with handovers expected in the first quarter of 2028. The facility targets a BREEAM Excellent rating, with structural provision on the roof for solar panel installations.

Thibault Delamain, Managing Director and Head of Investment & Asset Management at AG Real Estate France, said:

“In a logistics investment market that has become particularly selective, we choose to invest when the fundamentals are in place: a strategic location, a new-build property meeting stringent environmental standards, and a leading tenant committed to the long term. This transaction, carried out in partnership with the Martin Belaysoud Expansion group, also demonstrates our ability to support companies with their property projects. It confirms our commitment to continuing the development of our logistics portfolio in France.”

On the vendor side, Martin Belaysoud Expansion received advice from Arthur Loyd Logistique and law firm Alcaix, with Immasset providing project management support. AG Real Estate France was advised by Maître Virginie Blanc of GMH Notaires.