Press release – Monday September 4, 2023 – 17:45
ARGAN and CARREFOUR are developing a new Aut0nom logistics platform on a former brownfield site located in Caen
CARGAN-LOG, the joint-venture created by ARGAN and CARREFOUR, has just started the construction works for a new logistics platform of 82,000 sq.m that will be rented to the supply chain division of the retailer, as part of a lease with a 9-year fixed term. This project, developed on a former brownfield that belonged to PSA, turns into reality a shared ambition of high standards in terms of energy approach and ecology: preexisting trees were saved and over 11,000 new ones will be planted following the principles of the « Miyawaki » forest.
Photo credit: Agence Franc
Thanks to the road interchange connecting the French “Nationale 814” – the ring road of Caen – and and “A13”, which links Caen to le Havre and to Paris, Mondeville (14) benefits from a strategic location for logistics activities. This location was selected on purpose by ARGAN and CARREFOUR to welcome a new logistics platform of 82,000 sq.m.
A quarter of the building will have a cold area, the rest being dedicated to storing products at an ambient temperature. This site will also include 2,500 sq.m in offices and spaces with a social purpose. The delivery of the whole program is scheduled for the Summer of 2024.
As for all new ARGAN developments, this site will be labelled Aut0nom®. By installing a photovoltaic power plant on the roof, together with batteries for energy storage, all of the site’s needs in terms of heating, cooling and lighting will be met thanks to the green energy that will be generated and used locally. The heating and cooling of the site will be ensured through electric air/water heat pumps that are far less energy-intensive than gas heaters, thus leading to CO2 emissions cut by a factor of 12.
More than 11,000 trees planted on a depolluted former brownfield
This project is taking place on a former brownfield of the company PSA covering 30 hectares depolluted beforehand. The re-usage of this real-estate field helps limit soil artificialisation and the ecological impact of this operation.
The project also includes a large-scale plan to reforest the field and make spaces greener overall.
Existing trees were saved, and 11,000 new ones – selected from local species – will be planted following the Miyawaki forest principles. Overall, 41% of the land will be dedicated to green spaces.
The combined action of an Aut0nom warehouse with the reforestation of the site will turn the project of Mondeville into an exemplary operation regarding its carbon footprint. It will also help target a BREEAM “Very Good” certification, as well as a “Biodivercity” label.
Jean-Claude Le Lan, Founder and Chairman of the Supervisory Board of ARGAN: “ARGAN is pursuing and strengthening its historic partnership with CARREFOUR, its main tenant client with over 20 running logistics sites. The creation of this joint-venture, under which future logistics real estate developments with CARREFOUR will take place, is a win-win contract between two complementary entities”.
Financial calendar 2023 (Publication of the press release after closing of the stock exchange)
October 2: 2023 3rd quarter sales
Financial calendar 2024
January 3: 2023 Annual Sales
January 18: 2023 Annual Results
March 21: Annual General Meeting
ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT.
As at June 30, 2023, ARGAN’s portfolio amounted to 3.5 million sq.m, comprising approximately 100 warehouses located exclusively in France, valued at €3.6 billion. ARGAN is a listed real estate investment company (French SIIC) on Compartment A of Euronext Paris
(ISIN FR0010481960 - ARG) and is included in the Euronext CAC All-Share, EPRA Europe and IEIF SIIC France indices.