WDP further strengthens its French platform with the acquisition of two logistics assets located in Alzonne and Vendargues, representing a total investment of approximately €52 million. Together, these acquisitions total approximately 50,300 sqm of leasable space and generate an average NOI yield of approximately 7.0%, supported by leases with an average term of seven years. In addition to an immediate contribution to results and value creation potential, these acquisitions further densify WDP’s network along the main logistics corridors in the south of France, strengthening its ability to support an ever-expanding and interconnected European logistics platform, as illustrated by the development of its existing international customers in several European countries.
These two assets further strengthen our presence in the established logistics markets along the main transport corridors in the south of France. Their complementary profiles combine visibility of rental flows and potential for future value creation, and demonstrate the attractive opportunities that we continue to identify in the French market. At the same time, the development of cross-border partnerships with our existing customers illustrates the strength of WDP’s integrated European platform and customer-centric approach.” François Le Levier – Country Manager WDP France
Alzonne: sale-and-leaseback with DHL for the agricultural sciences industry
In Alzonne, near Toulouse, WDP has completed the acquisition of a newly constructed cold chain logistics building in a sale-and-leaseback transaction with DHL for an investment of approximately €27 million. The asset comprises approximately 23,300 m² of leasable area, with a development potential of 8,000 m², and is fully leased to DHL under a nine-year firm triple net lease. DHL, WDP’s long-standing international customer, operates the site on behalf of a major player in the agricultural science industry, consolidating logistics flows from four sites into a single logistics platform for European inbound flows and global outbound distribution. Developed as a build-to-suit for logistics operations specialized in the cold chain, the building has been designed to meet the requirements of the BREEAM Excellent and WELL Core Gold certifications (offices only), as well as those of the European Union taxonomy and CRREM trajectories. The warehouse also incorporates advanced sustainability equipment, including solar panels, electric vehicle charging infrastructure, and a fully electric HVAC system.
Vendargues: a value-add acquisition
WDP has finalised the acquisition of a fully leased logistics site in Vendargues, near Montpellier, along the A9 corridor linking France and Spain, for an investment of around €25 million. The asset comprises approximately 27,000 m² of leasable space and serves as the headquarters and operational hub for Southern Europe of a long-standing international customer of WDP.
