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.