Last mile specialist Valor Real Estate Partners has completed the acquisition of a 6,000 m2 urban logistics asset in Wissous, Paris.
Financial details were not disclosed.
Acquired off market from a private seller, Valor’s intends to undertake a refurbishment programme to deliver a highly functional, cross docked facility with strong ESG credentials.
Originally constructed in 2004, the vacant property sits on a 16,000 m2 plot, and has best-in class specifications with a 55m yard and an 8m clear height.
The refurbished property, which will be suitable for single let tenant, will feature a compelling door ratio, full circulation around the building, and include LED relamping, recladding and a new building management system.
Wissous, 12 km from central Paris, is a favoured location for e-commerce and 3PL occupiers serving the south Paris submarkets and inner city.
The site sits adjacent to the A10 and A6 motorways and is five minutes’ drive time from both the A86 (Paris second ring road) and A6 (Paris-Lyon motorway) and 10 minutes’ drive time from Paris’ first ring road. Orly airport is less than 7km away.
Ben Brunschwig, senior vice president at Valor, commented: 'We are seeing continued demand across Paris for modern, sustainable warehouse space that enables occupiers to access consumers in short drive time.
'At the same time, many of the cities’ infill submarkets remain critically undersupplied, offering those investors and developers with deep local networks and proven value-add capabilities an opportunity to deliver a sought after product and capture material rental and capital growth.'
Valor was advised by Simmons & Simmons (tax/structuring/corporate), Hogan Lovells (real estate), Oudot (notary), Andine (technical), CBRE (broker) and Les Atelier 4+/Quadribat (refurbishment).
