French business law firm August & Debouzy advised Costco France – a subsidiary of the Costco Wholesale Corporation group – on the negotiation and signing of a long-term lease and turnkey building contracts with market-leading commercial real estate company Compagnie de Phalsbourg.
Costco – which is reportedly the seventh largest retailer in the world – was established in the US as a ‘wholesale club’, offering food and non-food products to members at cut prices.
The site in Bussy-Saint Georges will provide a sales area of
14,000m sq, and will see approximately 250 people employed by Costco. The store will be a first in continental Europe for the group, with Costco officials saying they plan to open several other sites in France over the next five years.
August & Debouzy partner Ferenc Gonter led the negotiations
for Costco.