Valor Real Estate Partners has committed €40m to bring forward 25,000m² of modern distribution space in key Paris submarkets. The three speculative developments will further expand Valor’s footprint in Continental Europe’s most advanced e-commerce market, where land availability for urban logistics infrastructure is severely limited.
In Marly-La-Ville, a submarket 30km north of Paris, Valor is bringing forward a 10,500m² cross-dock distribution facility on a 47,250m² plot, featuring 10m clear height and extensive HGV parking. It is located within an estate previously acquired by Valor, comprising two Grade-A urban logistics buildings, and provides direct access to the A1 motorway. The unit is due to complete in Q3 2023.
In La Courneuve, in front of the A1 and close to both the A86 motorway and the sites being developed for the Paris 2024 Olympic Games, Valor will deliver a new light industrial estate comprising three modern and divisible buildings on a brownfield site acquired in November 2021. The park will meet the latest market standards and will have an office ratio of 15%, which can be increased to 25%, a clear height of 8m and truck yards of 35 to 42m. The development will complete in Q1 2024.
In a third transaction Valor is bringing forward the speculative development of a 4,000m² warehouse in Limeil-Brévannes, via a forward-funding agreement with French contractor GEFEC. The facility will offer 7m clear height and an 18% office ratio, making it adaptable for a range of businesses across the ecommerce, catering and light manufacturing sectors. The development, located approximately 10km south of central Paris on the A86, will complete in Q3 2023.
Jonathan Muller, Valor, said: “These new facilities are all located in prime urban logistics submarkets where occupational demand is fierce and land for development is severely limited due to the need to deliver housing and “Grand-Paris” infrastructure projects. These strong fundamentals should underpin rental performance over the mid to long term and gives us great confidence to develop modern, sustainable delivery space on a speculative basis.”
