Valor Real Estate Partners has acquired, on behalf of its joint venture with QuadReal Property Group two last-mile warehouses in Lyon, France, for €10 million (c. £8.8m).
The first asset is a 5,000m² (c. 53,000ft²) low-site density asset located in Chaponost, west of Lyon, while the second asset is a 5,000m² (c. 53,000ft²) distribution facility in Corbas, situated in Lyon’s eastern ring road area.
The separate transactions bring Valor’s portfolio in the Lyon region to over 120,000m² (c. 1,291,000ft²).
Built in 2001, the property is fully leased to a solar panel distributor and benefits from strong specifications including a 50m yard and numerous dock doors.
Chaponost is a strategic submarket surrounded by affluent neighbourhoods, and benefits from excellent connectivity to the city centre.
In line with the JV’s strategy, Valor will undertake a series of ESG-led initiatives across both assets, including LED lighting upgrades and the introduction of advanced building management systems.
Valor vice president, Thibault Schnyder, said: “These two off-market transactions reinforce Valor’s position as one of the key players in Lyon despite a difficult macro-economic environment, and sit at the heart of the platform’s investment strategy to grow our last-mile presence in key European distribution hubs.
“Valor is proud to continue working with local partners and supporting SMEs’ growth ambitions by providing functional real estate with rapid access to the city centre and surrounding catchment areas.”
