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A nimble team, dazzling development, a solid shareholder: This year, Parcolog is celebrating its eighth financial year. A good occasion for an update on its activity and projects.
Business Immo: Parcolog was created in 2001 and bought by Generali in 2006. What is your assessment of these first seven years of activity?
Hélène Fort: Seven years is the age of reason for Parcolog. At the end of 2005, our asset base reached 185,000 m2. At the end of 2008, it will be figured at 700,000 m2 for buildings constructed. Our operating mode – acquisition and development – has allowed us to develop fairly rapidly. We often build speculatively.
Parcolog had 210,000 m2 of projects in the pipeline, with permits obtained or applied for. We are aiming for one million square metres for 2010.
BI: What are the characteristics of your asset base?
Arnaud Dernoncour: Class A buildings, prime locations (in the major consumer basins), developments in both parks and independent buildings: These are the characteristics of Parcolog properties, which represents at one and the same time, the brand, a company and the name of our parks. Secondly, our buildings have the benefit, more often than not, of several options and if possible a rail connection.
HF: Parcolog operates in all logistic products: Dry, chilled, cold, frozen, parcels. We are located in Ile-de-France, in Mitry-Mory and Brétigny-sur-Orge, in Lille, Nancy, Beaune, Lyons, Bordeaux and Rennes. And we will soon be delivering for Bordeaux (37,000 m2), Marly-la-Ville (18,300 m2) and Sénart (19,000 m2).
BI: What is your reading of the logistic property market, taking the economic background into account?
AD: We are not pessimistic. New demand is being born naturally, linked to the movement to meet standards for buildings, the modification of the supply chain, a search for productivity and for new transport modes and new distribution modes.
HF: Our model – large areas and class A buildings – is well positioned to accommodate this new demand.