DAA Capital Partners reached a key milestone in its Logistics Real Estate program with the successful acquisition of a warehouse in the Lyon area of Heyrieux, France.
“We are delighted to close 2021 with our first in a series of real estate acquisitions which perfectly fits our approach to logistics real estate. The industrial asset is located in a strategic logistics hub and offers a very interesting opportunity for repositioning into a future-proof logistic warehouse”, commented Philippe Riachi, co-founder of DAA Capital Partners.
The asset, composed of 4 ground-level doors, with a height to ceiling ranging from 10m to 12m, has a lettable area of more than 11,000 sqm on a land plot of 36,600 sqm. It benefits from an excellent location being within a 20min drive from the center of Lyon and 7km from Isle-D’Abeau, the largest logistics hub in France with 2.2mm sqm of logistics area.
“At the end of the 2-year lease agreement with the current tenant, we will undertake an extensive CapEx program to refit the building into a modern logistics asset. This strategic repositioning is designed to meet the strong demand for logistics space in the area, which is also expected to gain momentum in the coming years”, added Anne-Lorraine de Malliard, Partner at DAA Capital Partners.
“This acquisition marks the first milestone of our investment program in cross-docking and last-mile assets in these strategic corridors of Western Europe. We look forward to adding further assets currently in our pipeline”, stated Alain Dargham, co-founder and managing partner of DAA Capital Partners.