Clarion Partners Europe has acquired a 61,769m2, Grade-A logistics asset in Sury-le-Comtal, France, on behalf of one of its co-mingled funds.
Completed in January 2023 and suitable for single or multi-tenant use, the BREEAM¹ Excellent certified and net zero carbon construction property is fully let on long lease firm term to Logistique Alaine, the logistics division of Groupe Alaine.
Located in the “Plaines” Industrial Zone of Saint-Étienne, within the Greater Lyon market, the property is under one hour drive from Lyon and serves as a catchment area for the core Lyon market, one of the most established logistics markets in France. It benefits from good connectivity, with the nearby A72, A47, and A89 providing direct access to the A6 and A7, two major arterial routes.
Geoffroy de Guibert, Director at Clarion Partners Europe, commented: “This was a rare opportunity to acquire a highly sustainable warehouse, in a fast-growing logistics market, with a very attractive day one income profile and future reversionary potential.”
Rory Buck, Managing Director at Clarion Partners Europe, added: “France continues to be a high-conviction market for Clarion, where we see robust occupier fundamentals and have a strong acquisition pipeline.”
Clarion Partners Europe was advised by Wargny Katz (notarial), Gowling WLG (financing and legal DD), Lacourte (tax) and Etyo (technical and environmental DD). The seller was advised by Le Breton Notaires.
Image provided by FTI Consulting.
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