Ivanhoé Cambridge sells Paris warehouse off-market to Crossbay

Crossbay, the last-mile logistics specialist incubated by pan-European private equity real estate investment manager MARK, has acquired a warehouse in Paris from Ivanhoé Cambridge for an undisclosed sum.

The 16,200-square-meter (174,400-square-foot) warehouse is located north of Paris in the industrial area of Goussainville, a prime logistics hub in the vicinity of Paris Charles de Gaulles airport and well connected to Paris. The asset has been acquired vacant and will be marketed to last-mile logistics users.

Crossbay will fully refurbish the warehouse, which was built in 2000, as part of its ESG-focused asset management strategy. The capex program will include the installation of EV charging, LED lighting, photovoltaic roofing and a range of other technologies to reduce carbon emissions at the operational phase. Crossbay will also upgrade the asset to the latest technical standards to meet user requirements.

The asset becomes part of Crossbay’s second portf