US-based real estate investment manager Realterm has bought Rue de Luxembourg (77), a 6,620-square-meter, cross-dock industrial property located on a 26,070-square-meter site in Lieusaint, France.
The high flow through (HFT®) property has 80 loading positions and is only 32 kilometers from the center of Paris.
Realterm plans to modernize and significantly upgrade the facility. Planned improvements include the installation of new single doors and levelers as well as sustainability features such as LED lighting and EV charging. The property also includes a stand-alone additional 5,360-square-meter site for parking.
“The French logistics market has seen incredibly low vacancy rates, particularly in Lieusaint, which is driving up rents,” said Balazs Lados, Managing Director and Fund Manager, Realterm. “Lieusaint is one of the best final mile markets on the continent and is expected to continue to grow, making this acquisition a notable addition to Realterm’s European portfolio.”
Realterm plans to modernize the facility, upgrading the loading positions with the installation of new single doors, levelers and bumpers. The façade will be repaired, and LED lighting will be added throughout the facility. The property also includes an additional 5,360-square-meter site for parking.
Rue du Luxembourg (77) is strategically located in the heart of the Sénart market, considered one of the dominant logistics hubs in the Ile-de-France region. The facility is conveniently positioned at the crossroads of France’s critical national highways and regional freeways within the PARISUD Business Park.
“A well-located facility such as this with a large number of doors will be appealing to both traditional palletized freight operators servicing Paris and last mile delivery operators,” said Hugues Tallandier, Investments, Southern Europe, Realterm. “Being at the gate of the greater Paris region provides a particular advantage for final mile operations. We are delighted to add this property in a world-class final mile market to our European portfolio.”