Prologis confirms its urban logistics strategy with four major acquisitions in Greater Paris in 2020

Grand Palais

 

Prologis acquired four urban logistics buildings this year. Having launched two years ago, Prologis' strategy is designed to meet the needs of its customers as effectively as possible, by supporting them on a daily basis to offer the most efficient service. Prologis also aspires to be a dedicated partner in its host regions. Having studied both this new market and the expectations of end users, the group is now targeting the Greater Paris metropolitan area.

47,000 sq m for urban logistics purchased in 2020

Prologis made its first acquisition in February: the Rosny DC1 warehouse, located in Rosny-sous-Bois in the east of Paris. Through a complete renovation of the building, the project aims to improve the building's energy footprint, while creating new storage space without altering the total area of the building (12,163 sq m). With completion of the works scheduled for May 2021, rental marketing has entered an exciting phase, with companies specializing in urban distribution, e-commerce and high-end textiles.

Two other buildings joined the Prologis group in October. Firstly, Vitry DC1 (Vitry-sur-Seine) which, with a surface area of 8,543 sq m, is entirely leased to JCDecaux Street Advertising and dedicated to the storage and maintenance of urban furniture in the east of Paris. Secondly, Paris La Défense DC2 (19,486 sq m), located in Nanterre, is now home to a subsidiary of ALD Automotive (Société Générale Group), which specializes in long-term vehicle leasing. 

Finally, in early November, Prologis welcomed a second building in the same district: Paris la Défense DC1 (6,104 sq m). The project calls for the complete renovation of the property in order to improve the building's integration into its immediate environment, reduce its energy footprint and offer premium services to future tenants.

Salvi Cals, Prologis' Director of Investments in France, says: "We selected these assets for their ideal location, between the Paris ring road and the A86, with easy access to the areas of consumption. With a minimum size of 6,000 sq m but also easily divisible, they correspond to the profiles of prospective clients wishing to get closer to their end users, such as e-merchants or parcel distribution specialists as well as local business owners. For 2021, we are still on the lookout for new investment opportunities to adapt to demand, without aiming for expansion at all costs. »

 

"The need for local logistics is growing in response to changes in consumer trends, accelerated by the health crisis we are currently experiencing. The growth of e-commerce, the acceleration of trade and the decarbonization of the logistics chain are becoming more and more important and are changing the demands of end users. Urban logistics is, in our opinion, the solution to help the Greater Paris region breathe, by limiting congestion, rehabilitating often neglected areas and spaces, strengthening local employment, and we are open to discussing these subjects with the communities and regions that we have chosen to work in. Prologis' objective is to bring goods closer to the population in order to meet the growing demand of consumers and business operators", said Cécile Tricault, Prologis’ General Manager for Southern Europe.

Related Features