Fund manager Clarion Partners Europe, which specialises in logistics and industrial assets, is forward funding a partly pre-let, Grade-A warehouse in Boisseaux, south of Paris, for €46.6 million. The vendor, Quartus Logistique, will remain as the development manager.
The planned scheme (pictured above), will be an institutional quality, 74,245 sq m logistics warehouse capable of being subdivided into four units. A pre-let has been agreed with a subsidiary of aerospace and defence company Safran for 42% of the floor space (31,000 sq m).
Construction will start this month and should be completed in Q4 2020. In addition to 5-tonne floor loading and clear heights of 10.7m the building will target a BREEAM “Very Good” certification.
Clarion Europe has invested €430m in French logistics
Clarion Europe has invested over €430 million in the French logistics market since the start of 2018 including standing assets and developments. The firm said in a statement that this volume reflects its “conviction in a market experiencing one of Europe’s fastest growing rates of e-commerce penetration”.
Boisseaux is located 47km north of Orléans and 81km south of Paris. Clarion Partners Europe managing director Rory Buck commented that the project, “continues our investment strategy of identifying Grade-A assets in geographically relevant logistics locations which appeal to a wide range of occupiers for regional or national distribution.”
Clarion Europe was advised by Le Breton, Lacourte Raquin Tatar, Gowling WLG and ETYO.