Savills IM acquires three logistics properties in France on behalf of pan-European logistics fund
Savills Investment Management has acquired three logistics properties in France for a total €72 million ($69 million) on behalf of its European Logistics Fund 3 (ELF 3). The ELF 3 portfolio now comprises 15 properties in five countries.
In Dijon, an inner-city cross-dock facility to serve the last mile was acquired. The property is located in the city's largest commercial area and is well connected in all directions thanks to its access to three motorways. The seller of the property is a French real estate developer.
Dijon is the capital of the French region of Bourgogne-Franche-Comté with around 155,000 inhabitants and is located on the French logistics axis La Dorsale between Paris and Lyon. The cross dock is leased on a long-term basis to a global market leader in online retail and is designed as a typical delivery station. The complex comprises a total of 12,300 square meters (132,396 square feet) of lettable space, as well as sufficient parking spaces for deliv