CGS: Logistics property in Lyon acquired for special fund
At a transaction volume of around €12mn, the Italian grocer Caserta S.A. recently sold a logistics/transportation property in Lyon (Isle d'Abeau) to Commerzbank subsidiary Commerz Grundbesitz-Spezialfondgesellschaft (CGS) for around €12mn. CGS acquired the property, with a total area of around 14,000 m², for its special property fund, CGS-Immo-Spezial. Scheduled for completion in January 2008, the building is completely pre-leased to Caserta and its sister company, La Place.