Rationale and achievements

Grade-A cross-dock logistics warehouse located in Combs-la-Ville within the Parisud logistics park, 30 km south east of Paris. Off-market opportunity to capitalize on the favorable supply/demand dynamics of the Greater Paris logistics market.

The asset is in good condition, fully-let to Leroy Merlin, one of the leading French DIY retail players at a moderate rent compared to ERV.

The tenant indicated its intention to leave the premises in the medium term and the strategy is to refurbish and re-let the building to a single occupier at market ERV to capture the positive rental reversion.

  • Location Combs-la-Ville, Paris region
  • Type Logistics
  • Surface 41,500 sqm
  • Acquisition date July 2017
  • Value creation strategy Re-gear lease with tenant and after departure refurbish and re-let at ERV
  • Tenant Leroy Merlin
  • Client North American Pension Fund (Highlands Logistics)
  • Status On-going