Valor Real Estate Partners (“Valor”), Europe’s fastest growing last-mile real estate specialist, has completed ten new lettings in Paris and Lyon, France, totalling 31,500 sqm, as it continues to drive returns through asset management in France’s most dominant e-commerce and urban distribution centres.

In the core Paris submarket of La Courneuve, Valor has completed two leases, totalling 7,000 sqm, to Photocinerent and Reekom, The latter, a re-commerce start-up focused on refurbishing and redistributing second-hand goods, will establish France’s largest second-hand processing facility at the site. It follows the completed speculative development of a 10,600 sqm modern urban distribution park in Summer 2024.

In Lisses, Valor has signed a new lease with E-Thik, the vending solutions business, following which the 16,000 sqm urban distribution park is now 100% occupied. Located at the junction of the A104 (Paris’ 3rd ring road) and the A6 Paris-Lyon motorway (a critical road for freight movements in France), occupiers benefit from direct access to the Paris city centre.
Valor has also agreed five lettings, totalling 9,200 sqm, at its property in Le Bourget. They include Convelio, the fine art logistics experts, taking new space, and an existing occupier, Brothers Negoce, the energy performance refurbishment specialists, expanding its presence on the park.

At its distribution centre in Trappes, Paris, Valor has completed a 9,700 sqm letting to Mondial Relay, the international packaging company. The property, 30km south-west of Paris, reached practical completion last year, following a significant refurbishment programme and the pre-letting of 5,500 sqm to RRG.

Finally, at Chassieu, a 25-minute drive from Lyon city centre, Valor has completed a 5,000 sqm letting to Katoen Natie, the logistics and engineering solutions provider. It follows a heavy refurbishment of the cross-docking warehouse, which included improvements to the building’s sustainability credentials via LED lighting, installing insulated cladding, and water saving works.

Alexandre Masso-Bordenave, Vice President, Asset Management, commented:

“Demand for prime urban warehousing in Paris & Lyon, led by distribution, 3PL and trade occupiers, continues to drive leasing momentum across our portfolio. The erosion of industrial land in many of the most sought after submarkets that we operate in has seen us continue to leverage our refurbishment and redevelopment capabilities to capture significant capital and income upside.”