Paris, France, February 13, 2024 – Ivanhoé Cambridge announces the delivery of the final phase of its logistics warehouse in Fos-sur-Mer, near Marseille. This 24,000 m² expansion, built by Faubourg Promotion, the IDEC group’s developer, brings the total surface area of the building to 92,000 m², out of the 384,000 m² Hub & Flow logistics portfolio.
This most recent phase represents the completion of the project launched in late 2021 with the acquisition of the first two 68,000 m² sections of this logistics platform, leased to Adéo Group, owner of the Leroy Merlin chain and the world’s third-largest retailer of consumer goods for DIY and home décor. Adéo has taken over the entire site and extended its occupancy until 2032.
The property benefits from a rare strategic location in an under-serviced sector that is highly sought-after in the “European backbone” for international trade. Ideally situated at the heart of the industrial port of Marseille, France’s second-largest port, the warehouse’s unique geographical positioning gives it access to a large, high-quality employment pool, while enabling the businesses based there to directly reach 12 million consumers.
The Fos-sur-Mer platform is of the latest generation (Class A), with high environmental standards (BREEAM Very Good targeted) and 46,000 m² of photovoltaic panels and shading. The asset will be managed by AEW Group, which is responsible for managing the entire Hub & Flow portfolio.
“This expansion marks an important step in our investment and asset management strategy and demonstrates our ability to directly oversee complex, value-added projects,” says Martin Chevallier, Senior Director, Asset Management, France, at Ivanhoé Cambridge. “This transaction strengthens our position as a leading player in the French logistics market and reaffirms our diversification strategy in this sector.”
Ivanhoé Cambridge was advised in this transaction by ETYO as a project management assistant. Entrepôt XXL France advised Faubourg Promotion and Adéo on the development of this project.