Valor Real Estate Partners (“Valor”) announces new lease terms for three assets based in Paris and Lyon, demonstrating its strong capability to acquire, create and to lease strategic assets in prime locations.
The first asset, based in Emerainville, East Paris, was fully refurbished in 2018 post-acquisition. The asset’s final unit is 7,300 sqm and has been leased to Groupe Distritec, a French logistics and transportation specialist, on a 6-year fixed term basis in order to accommodate for their expanding business. The asset is now 100% leased.
The second asset is located in Limeil-Brévannes, South East Paris. It is a 5,900 sqm cross dock facility and was fully leased pre-refurbishment to Chronopost, the leading French express delivery company, on a 6-year fixed term basis.
The final asset is a two-building urban distribution park, based in Genas, Lyon. Its second unit, totalling 2,370 sqm is now fully leased to Eovolt. The site is now fully leased after it was acquired in March this year.
Victor Massias, Principal at Valor commented:
"Securing these favourable lease terms is a clear validation of our strategy, acquiring strategic assets in attractive, supply constrained locations. They highlight the quality of our locations, the relevance of the refurbishment plans and the appetite from customers for last mile distribution buildings.
“Government lockdown restrictions in many European countries means last mile distribution centres are more sought-after than ever. This upward trajectory in demand is expected to continue even as restrictions ease. We are well placed to capitalise on this trend moving forward”.
The brokers were Arevale for Emerainville, LogInFrance for Limeil-Brévannes, and Brice Robert and JLL for Genas.