Corestate’s Stam Europe unit boosts urban logistics strategy

French logistics specialist Stam Europe, a Corestate subsidiary, has acquired three light industrial parks in the Paris region from the developer Pierreval.

This acquisition is part of the Stam Europe’s expansion into urban logistics and was made on behalf of the Highlands II joint venture between Stam and a North American institutional investor.

The three sites, totalling more than 15,000 sq m, are approximately 30-45 km south of Paris. The assets will target a BREEAM Good certification and will provide units of 200 to 500 sq m for rent during 2022.

Stam Europe currently has about 1 million sq m of space under management. The company targets assets for Highlands II that have added value potential, either because their current rents are reversionary or through capital expenditure programs.  

“Our ability to acquire spec developments allows us to position ourselves on quality assets that meet new environmental requirements and the needs of users,” said Alexandra Vaquin, head of acquisitions at Stam Europe. “Given the location of these sites and the scarcity of new programs, we are very confident in our ability to lease the assets.”