Last-mile real estate specialist Valor Real Estate Partners has acquired a 9,000 sq m (circa 97,000 sq ft) logistics property in Sartrouville, west Paris.
Valor has also recently agreed a partial pre-let of 5,500 sq m (circa 59,000 sq ft) on a warehouse under refurbishment in Trappes in west Paris to an automobile manufacturer and completed the ESG-led refurbishment of a 2,300 sq m (circa 24,000 sq ft) warehouse in Bezons.
Ben Brunschwig, senior vice president at Valor, said: “We are seeing an increasingly diverse range of occupiers seeking modern, sustainable space in Paris in order to service consumer needs, which is underpinning continued rental and capital value growth.
“The West Paris submarket in particular, where we have amassed a circa 80,000 sq m [circa 860,000 sq ft] portfolio primarily through off market acquisitions and now have significant value-add expertise, is characterised by ageing stock with competition from higher value end uses limiting new development.”
Valor was advised by Simmons & Simmons, Oudot & Associés, AMF-QSE and DS Patrimoine on Sartrouville. The Trappes and Bezons refurbishments are delivered by architects Les Ateliers 4+ and contractor Quadri-bat.
