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Nuveen Real Estate invests more than €135m in three premium logistics assets across France
- Three industrial assets located in Marseille, Valence and Ile-de-France
- The fully let assets take Nuveen’s logistics AUM in France to nearly €200m
The first asset, a development acquired from Virtuo, is located 30 km (c. 19 miles) south of Paris in the Essonne, within the strategic hub of the Plessis Pâté. The property is a multi-temperature logistics hub of just over 10,000 sq m (c. 108,000 sq ft). The site is fully leased to an international brand, which will use it as a storage and distribution hub to supply the Parisian region.
The second asset, with an area of about 49,000 sq m (c. 527,000 sq ft), is located in Port-Saint-Louis du Rhône within the Distriport industrial zone, in direct proximity to the industrial port of Marseille. The platform is fully leased to three occupants who are all well established in the region.
Located in Valence, 100 km south of Lyon, the third industrial asset, totalling nearly 87,000 sq m (c. 936,000 sq ft) is located close to the A7 and A49 motorways, providing a strategic location close to the French Alps and Italy. Occupied by the leader in online tyre sales, this property is integrated into the South Rhône-Alpes Multimodal Park, which includes DHL, Leroy Merlin and Kuehne and Nagel as tenants.
Christel Zordan, Head of France for Nuveen Real Estate, comments: "Throughout the ongoing health crisis we are experiencing an increased need for storage, so we are delighted to have added these three Grade A-logistics assets to Nuveen’s growing industrial portfolio. Taking into account their respective strategic locations and quality occupants, we expect to achieve the target rates of return of our investors. Building on this, we continue to look for new opportunities in the logistics market.”
For the property near Paris, Nuveen was advised by Panhard and Associates (notary), Gide Loyrette Nouel (legal), Arsène Taxand (tax), Etyo (technical), ERM (environment), ICF (ICPE). Cushman and Wakefield acted as agent.
During the acquisition in Marseille, Nuveen was advised by Screeb Notaires, BG2V (legal and tax), Etyo (technical), ERM (environmental) and SD Environment (ICPE). Arthur Lloyd and EOL acted as agents.
Nuveen was advised for the transactions in Valance by C&C Notaires (Bruno Castéran), BG2V (legal), Arsène Taxand (tax), Etyo (technical), ERM (environmental) and Airelles Environment (ICPE). Sodica acted as agent.

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Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.