Valor Real Estate Partners plans to invest €40 mln to develop 25,000 m2 of modern distribution buildings in the Paris region.
In Limeil-Brévannes, about 10 km south of Paris on the A86 motorway, the UK asset manager has taken over the development of a 4,000 m2 business building from French developer Gefec for an undisclosed amount.
Offering a clear height of 7 metres and an 18% office ratio, the building will be adaptable to a wide range of companies in the light industry, catering or e-commerce sectors.
In Marly-La-Ville, Valor is developing a 10,500 m2 cross-dock distribution facility on a 47,250 m2 plot of land, within a park it acquired in 2019.
Located 30 km north of Paris with direct access to the A1 highway, the property includes two Grade A urban logistics buildings and ample truck parking.
Finally, in La Courneuve, Valor will deliver a new business park comprising three buildings on a brownfield site acquired last November.
The park will have an office ratio will be 15%, which can be increased to 25% and a clear height of eight metres.
The location faces the A1 motorway and is close both to the A86 highway and the sites that will host the Paris 2024 Olympic Games.
The first two properties will be completed in Q3 2023, while the third is due for completion in Q1 2024.
Valor Real Estate Partners owns and manages a €3 bn portfolio, comprising approximately one million m2 across more than 150 assets.
In France, its portfolio spans 450,000 m2, located primarily in the Paris region, with a development pipeline of 60,000 m2.