DWS has completed an off-market acquisition of a newly constructed, prime logistics asset located in Greater Paris from French developer Télamon.
DWS said it had made the acquisition on behalf of an institutional separate account mandate that it manages.
Designed for the French subsidiary of GLS, one of the leading express parcel delivery service providers in Europe, the courier warehouse is fully leased to GLS France on a 12-year term and will become one of its main national hubs.
The facility, built in December 2023 by Télamon, comprises almost 12,000sqm with the potential to accommodate up to 350,000 parcels per day. Built to a high ESG specification, it aims to achieve a BREEAM RFO and Biodiversity certification upon delivery.
Situated within the prime logistics hub of ZAC des ‘Haies Blanches’, its location along a strategic axis between the south-east of Paris and the Lyon region (on the A6 motorway) will allow it to deliver to more than 14 million inhabitants in less than two hours.
Hugo Vere, lead portfolio manager at DWS, said: “Positive and improving market conditions along with limited supply have allowed us to access this prime warehouse facility leased to a top tenant at an attractive entry yield.
“Its best-in-class location combined with strong ESG credentials integrates perfectly with our strategy to build out a high-quality and diversified pan-European portfolio.”
He added: “We will continue to seek logistics in established core locations as well as high-quality residential assets targeting key cities across Europe.”
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