AEW acquires 21,000 sqm multi-storey urban industrial & distribution development in Lyon

AEW, one of the world’s largest real estate investment and asset managers¹, announces that it has agreed to forward fund the off-market development of a 21,000 sqm multi-storey urban industrial and distribution hub, in Vénissieux on behalf of its urban light industrial platform.

Branded ‘UP!’, the development is located in the Lyon metropole, the second largest economic powerhouse in France with more than 176,000 companies, and c.1.6 million inhabitants². The site fronts Lyon’s ring road in a strong location for serving the city’s last-mile needs, with direct access to the A43, A7, A6 and A46 motorways and the city centre. It also benefits from excellent public transport connections via the bus, metro and tramway.

AEW will partner with the Lyon-based developer em2c and brownfield regeneration specialist Ginkgo to deliver the two-storey asset. Once completed in Q3 2026, the property will comprise 26 units, including 18 flexible light industrial spaces with an average size of 457 sqm and eight urban warehouse units with docking stations starting from 1,185 sqm.

UP! will be built to the latest technical standards and have strong environmental credentials, targeting a BREEAM “Very Good” and a BiodiverCity label. It will feature loading docks units, ramp access for 7.5T vehicles, class-A BMS, LED lighting system, heat pumps and photovoltaic panels on the roof.

AEW continues to grow and diversify this footprint across Europe’s main industrial zones in line with its strategy.

Alexandre Petitpré, Executive Director, Investments France at AEW, said: “This acquisition offers a strategic opportunity to enter the highly sought after Lyon market. The development of UP! has a catchment area of ca. 1.1 m inhabitants reached within 30 minutes and is hence in line with our strategy of owning assets ideally located for last mile industrial and distribution activities. Working with Ginkgo and em2c, we have successfully designed a functional and easy to use building in accordance with our ESG and taxonomy targets. This acquisition also builds on AEW’s wider track record of developing and managing multi-storey industrial and logistics assets in markets where demand is high, and the supply of suitable development land is constrained.”

AEW was advised by Etude Monassier, Artelia, CBRE Valuation, and Fairways.

¹ Source: “2024 IREI.Q Real Estate Managers Guide”. The Guide, published annually by Institutional Real Estate, Inc., ranks real estate managers based on the gross value of real estate AUM ($m) as of December 31, 2023.

² Source: https://business.onlylyon.com/decouvrir-lyon/donnees-economiques-entreprises-emplois#:~:text=Avec%20plus%20de%20175%20000,un%20centre%20de%20d%C3%A9cision%20majeur

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AEW Europe
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Real-estate investment manager under n°T 8324 delivered by the Prefecture de police de Paris.
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www.aew.com

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