For instance a big box in Vichy, with gross leasable area (GLA) of 3,293 sq m is on an almost 80,000 sq m land area. On average, the stores range from 2,000 sq m to 6,000 sq m of GLA, on freehold sites ranging from 10,000 sq m to 80,000 sq m, with many of them in the 20,000 sq m to 30,000 sq m range.
Decathlon needs no introduction and its regular shoppers should be familiar with brands like Quecha for value-for-money backpacks for hiking and Kalenji for running. Cyclists too make a beeline to Decathlon for its bikes, tights and shoes.
Now IREIT Global, a modest-sized REIT with assets of around EUR720 million ($1.15 billion) will get a boost to EUR833 million in assets by acquiring 27 of Decathlon’s “out of town” stores in France. These stores are like big boxes, sitting in large pieces of land.
