M7 fully lets urban logistics asset near Paris
M7 Real Estate has signed a new letting with a logistics operator for c. 3,700 sq m of urban logistics space in Combs-la-Ville near Paris, an established distribution location with supply constrained dynamics.
The logistics operator has signed a nine-year lease for the space with favourable terms, bringing the overall occupancy of the c. 7,337 sq m asset to 100%. The new deal represents an increase in rental income of 18% over the previous rent, to €65 per sq m. The remaining 50% of the asset is let to two other logistics operators.
The property is strategically located in Combs-la-Ville, a prime logistics hub only 35 kilometres south of Paris, benefitting from strong submarket fundamentals and excellent arterial road connectivity. It provides direct access to the N104, Paris’ orbital motorway, as well as links to France’s wider motorway network.
Jean-Kevin Robillard, Senior Asset Manager at M7 Real Estate commented: “There is a severe shortage of urban logistics space surrounding the French capital which has enabled M7 to capitalise on favourable supply and demand dynamics, underpinning our sector conviction in this market. As a result, we have been able to fully let the property, reflecting M7’s ability to capture rental growth and meet the continued occupational demand we are witnessing for high quality, well-located urban logistics assets.”
M7 was advised by CBRE (Valentin Grivaud, Guillaume Machenaud and Raphael Jeanneau).