Valor Real Estate Partners is bringing forward 25,000 sq m (circa 270,000 sq ft) of spec built modern distribution space, with a GDV of circa €40m, in key Paris submarkets.
In Marly-La-Ville, Valor is delivering a 10,500 sq m (circa 113,000 sq ft) cross-dock distribution facility, which is due to complete in Q3 2023.
In La Courneuve, close to the A86 motorway and sites being developed for the Paris 2024 Olympic Games, Valor is building a new light industrial estate comprising three modern and divisible buildings on a brownfield site acquired in November 2021. The development will complete in Q1 2024.
Valor is also bringing forward the speculative development of a 4,000 sq m (circa 43,000 sq ft) warehouse in Limeil-Brévannes, via a forward-funding agreement with French contractor GEFEC, which will complete in Q3 2023.
Valor’s Jonathan Muller 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.”
The Marly-la-Ville and La Courneuve developments are being delivered by architects Les Ateliers 4+ and contractor Quadribat. The forward-funding agreement with GEFEC was brokered by JLL. Valor was advised by Hogan Lovells, Oudot & Associés and Simmons & Simmons across all three projects.
