Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has acquired a 61,769 sqm, Grade-A logistics asset in Sury-le-Comtal, France, on behalf of one of its commingled funds.
Completed in January 2023 and suitable for single or multi-tenant use, the BREEAM¹ Excellent certified and net zero carbon construction property is fully let on long lease firm term to Logistique Alainé, the logistics division of Groupe Alainé, the supply chain management specialists.
Located in the “Plaines" Industrial Zone of Saint-Étienne, within the Greater Lyon market, the property is under one hour drive from Lyon and serves as a catchment area for the core Lyon market, one of the most established logistics markets in France. It benefits from good connectivity, with the nearby A72, A47, and A89 providing direct access to the A6 and A7, two major arterial routes.
Clarion Partners Europe currently manages c. 400,000 sqm portfolio of high-quality warehouses in France, one of its core logistics markets.
Geoffroy de Guibert, Director at Clarion Partners Europe, commented: “This was a rare opportunity to acquire a highly sustainable warehouse, in a fast-growing logistics market, with a very attractive day one income profile and future reversionary potential."
Rory Buck, Managing Director at Clarion Partners Europe, added: “France continues to be a high-conviction market for Clarion, where we see robust occupier fundamentals and have a strong acquisition pipeline."
Clarion Partners Europe was advised by Wargny Katz (notarial), Gowling WLG (financing and legal due diligence), Lacourte (tax), and Etyo (technical and environmental due diligence). The seller was advised by Le Breton Notaires.
