Satigny Business Park

Unlike most of the Satigny/Meyrin neighborhood which is owned and leased out by Geneva's FTI (Federation Terrains Industriels), the Satigny Business Park, is held freehold

Agie Charmilles, the seller, is a company owned by the listed Georg Fischer Group that occupied the entire facility for both administration and industrial production purposes until 2009. In 2010, the seller completed its consolidation program at its Ticino plant in southern Switzerland, and therefore wished to downsize its occupation in Geneva.

The property was purchased by Westcore as a partial sale and lease back. The high-bay area was leased for thirteen and a half years, while the rest of the property had to be demised and leased up.

The main factory was transformed into smaller units of approximately 1'500 SM each and rented out to a variety of users. There is currently an industrial laundry, a trade desk construction materials retailer, a national logistics provider, a solar panel manufacturer, and even the state of Geneva has a taken a space for conducting auctions and storing merchandise. All of these are long leases and the investment has now stabilized and is performing well. 

The property was sold in 2014 with returns significantly higher than projected.