Real estate investment manager Clarion Partners Europe has completed the acquisition of a 116,800 sqm Grade A logistics facility in Amiens, northern France, purchasing the asset from ESR Europe on behalf of one of its commingled funds.

Completed in 2023, the large-scale property currently has a 74% occupancy rate, leased to third-party logistics provider ID Logistics to support a major e-commerce fulfilment contract. Standard warehouse areas feature 11-metre clear heights, 112 dock doors, and a floor loading capacity of 5 tonnes per sqm. The distribution hub holds a BREEAM Construction ‘Very Good’ rating, equipped with LED lighting, rooftop solar panels, solar parking canopy structures, and 21 electric vehicle charging stations.

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.”

Situated roughly 145 km north of Paris, the hub sits under four kilometres from the A16 and A29 motorways. This location offers direct transport links to Paris, Lille, Rouen, Le Havre, and Channel shipping ports. Local market conditions in Amiens show reduced construction deliveries following peak completions across 2022 and 2023, causing regional vacancy rates to fall from recent high points.

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.”

Advisers to Clarion Partners Europe included LaCourte Raquin & Associés, IREO, Wargny Katz, Carb0n, Sol-CE, and Costrategic. ESR Europe received advice from Caryatid Asset Management, Gide, Racine, Le Breton, NSA, JLL, and Eastdil.