Real estate manager Clarion Partners Europe has acquired a 116,800sqm logistics facility in northern France from ESR Europe for an undisclosed amount.
The fully-let facility in Amiens was speculatively built in 2023 as part of the portfolio of ESR Europe Real Estate Active Fund IV.
Etienne Bruneau, vice president at Clarion Partners Europe, said: “This acquisition gives us significant exposure to a newly developed, institutional-quality logistics asset at an attractive entry basis. The property combines scale, strong transport connectivity and an established [third-party logistics] tenant, while the remaining vacant space gives us a clear opportunity to drive further value through leasing.
“Large, modern logistics assets of this quality remain difficult to replicate, and we believe the combination of the property’s specification, location and improving local supply backdrop provides a compelling platform for long-term value creation.”
Fabien Meyer, senior director at ESR Europe, said: “We firmly believe that Som’Link represents the best of both Europe’s logistics sector and ESR Europe’s approach to sustainability and value creation.
“The sale to Clarion Partners is a testament to our pan-European platform and the depth of our teams on the ground. We have successfully developed, let and now sold one of the largest XXL assets in France despite a difficult macro backdrop, benefiting from e-commerce pent-up demand in the country.”
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