Clarion Partners Europe, the real estate investment manager, has acquired a 116,800 sqm Grade A logistics facility in Amiens, northern France, from ESR Europe, on behalf of one of its commingled funds.
Completed in 2023, the large-scale facility is 74% let to ID Logistics, one of France's leading third-party logistics operators, supporting a major e-commerce fulfilment operation. The property offers institutional-grade specifications, including 11-metre clear heights across the standard warehouse space, 112 dock doors and 5 tonnes per sqm floor loading capacity.
The asset also incorporates a strong range of sustainability features, including BREEAM Construction 'Very Good' certification, LED lighting, extensive rooftop photovoltaic panels, solar parking canopies and 21 electric-vehicle charging points.
Located approximately 145 km north of Paris and less than four kilometres from the A16 and A29 motorways, the property benefits from direct connectivity to Paris, Lille, Rouen, Le Havre and the Channel ports. The Amiens logistics market has also seen a sharp reduction in new development following elevated deliveries in 2022 and 2023, helping vacancy decline from its recent peak.
Etienne Bruneau, Vice President at Clarion Partners Europe, commented: “This acquisition gives us significant exposure to a newly developed, institutional-quality logistics asset at an attractive entry basis. The property combines scale, strong transport connectivity and an established 3PL tenant, while the remaining vacant space gives us a clear opportunity to drive further value through leasing.
Large, modern logistics assets of this quality remain difficult to replicate, and we believe the combination of the property's specification, location and improving local supply backdrop provides a compelling platform for long-term value creation."
Fabien Meyer, Senior Director at ESR Europe, said: “We firmly believe that Som'Link represents the best of both Europe's logistics sector and ESR Europe's approach to sustainability and value creation.
The sale to Clarion Partners is a testament to our pan-European platform and the depth of our teams on the ground. We have successfully developed, let and now sold one of the largest XXL assets in France despite a difficult macro backdrop, benefiting from e-commerce pent-up demand in the country. Building on such a compelling track record, we continue to look for similar opportunities with sizeable tickets and attractive fundamentals."
Clarion Partners Europe was advised by LaCourte Raquin & Associés, IREO, Wargny Katz, Carb0n, Sol-CE and Costrategic.
ESR Europe was advised by Caryatid Asset Management, Gide, Racine, Le Breton, NSA, JLL and Eastdil.