Valor Real Estate Partners and QuadReal Property’s European logistics investment venture has acquired a 10-acre site in France to transform into a 10,000sqm hub.
The value-add joint venture has invested an unspecified amount to acquire the site in Fleury-Mérogis, south of Paris, which includes a 6,500sqm vacant cross-dock property.
Valor Real Estate said it will undertake a comprehensive ESG-led refurbishment of the existing space and add a 3,500sqm extension, to create “a state-of-the art, cross-dock logistics hub”.
Victor Massias, partner head of developments at Valor Real Estate Partners, said: “This transaction builds on our proven track record in the Paris cross-dock market and reflects the JV’s conviction in highly supply-constrained, infill logistics locations where this type of product is scarce.
“Fleury-Mérogis benefits from exceptional fundamentals and through a comprehensive refurbishment and extension programme, we will deliver a future-proof, ESG-compliant asset aligned with the evolving requirements of last-mile and parcel delivery occupiers.”
Thomas Blangy, senior vice president at QuadReal, said: “This transaction further strengthens our already compelling portfolio in the Greater Paris region, one of France and Europe’s most important logistics markets.
“With this asset’s excellent connectivity and the clear scope for value-add improvements both in terms of its sustainability credentials and from an operational perspective, this transaction is firmly in line with our global investment strategy of targeting top quality assets in high growth urban logistics hubs across Europe and the UK.”
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