LaSalle Investment Management has announced that, on behalf of the LaSalle French Fund II, it has completed a lease on a major warehouse unit in Paris, France with POINT P, part of the Saint Gobain Group.

POINT P has signed a nine year lease, with a firm period of seven years, for 51,000 m2 out of a total 64,000 m2 of space which comprises eight units at a headline rent of EUR 52/m²/year/HT/HC.

The Class-A warehouse, which was developed in 2008 by GSE Group, is located in the Paris region of Brie-Comte-Robert, south-east of the City centre and well positioned for transport and other infrastructure.

LaSalle and Point P were advised by BNP Paribas Real Estate. The adviser indicated that this lease represents approximately 18% of overall logistic letting transactions in the Paris region for prime warehouses in 2009.