Valor Real Estate Partners (“Valor”) is pleased to announce that it has acquired on behalf of its clients two logistics assets, totalling 21,700 sq. metres, in the two most attractive submarkets in France, further expanding its presence in one of world’s leading economies. The parcel distribution facilities – located in Herblay, North West of Paris and Venissieux, Lyon – offer Valor an immediate stable cash flow with both assets currently occupied by blue-chip tenants.
The Herblay asset totals 11,360 sq. metres and is currently let to La Poste for parcel distribution. The asset benefits from its close proximity to Paris’ city centre and the current undersupply in the area.
The Venissieux asset, currently let to DHL, totals 10,300 sq. metres and offers excellent access to central Lyon and the wider Rhone logistics region. Venissieux is one of the most attractive submarkets in Lyon, with a structural supply shortfall and increasing tenant demand.
In addition, Valor secured new lease terms for its two assets based in Emerainville and Les Ulis, which were acquired in November 2017.
Valor signed two leases whilst completing the refurbishment programme on the Emerainville asset. The first was signed with Kuehne+Nagel, one of the world’s leading third-party logistics providers. The second lease was signed with Vir Transports, a national furniture transport business.
For its Les Ulis asset, Valor signed with Dagard, a leader in cold panel production in France. Valor also secured a new lease with ID Logistics, a leading third-party logistics provider. The asset is now 100 per cent leased.
Victor Massias, Principal at Valor commented:
"I am delighted to announce these acquisitions in two prime locations in France. Both deals emphasise Valor’s approach to acquisitions – acquiring functional logistics assets in attractive, underserved locations with excellent access to key urban centres and transport hubs.
“The deals demonstrate our commitment to expanding across Europe, while the newly secured lease terms support our strategy for acquiring strategic assets in attractive locations”.