23 JANUARY 2026
Bowery Europe, in partnership with Grosvenor Diversified Property Investments, has acquired a 7,000 square metre urban logistics asset on Boulevard de la Valbarelle in Marseille.
The acquisition is the first investment undertaken by the Bowery-Grosvenor joint venture and forms part of a targeted strategy to build a portfolio of urban logistics assets in major French and German cities.
The asset comprises two modern, single-storey buildings completed in 2017. It is configured for temperature sensitive pharmaceutical distribution and is fully let to a leading pharmaceutical distribution company, serving last-mile deliveries to hospitals, pharmacies, and other healthcare providers in Marseille and the surrounding region. The site is an infill, grade A+ location with immediate access to the A50. The opportunity was introduced off-market by JLL.
Bowery will lead a hands-on asset management programme, working closely with the tenant to facilitate tenant-led capital expenditure concentrated on ESG improvements to reduce operational energy use. Financing for the acquisition was provided by Socfim, with CBRE acting as debt adviser. The purchase price is not disclosed.
Bowery Europe brings pan-European logistics investment and asset management capability to the joint venture. The firm focuses on sourcing and executing urban logistics transactions and on delivering leasing, capex, and energy efficiency programmes that materially improve income, value and sustainability outcomes.
Jean-Marie Caillon, Chief Executive of Bowery Europe, said:
“This acquisition reflects our conviction in our last-mile urban logistics strategy and the value of active, tenant-aligned asset management. In Marseille we have an asset that is operationally well configured and well placed to benefit from targeted ESG investment that will increase resilience and long-term performance in the context of an occupier with sophisticated demands.”
Andy Yates, Chief Investment Officer, Grosvenor Diversified Property Investments, said:
“This acquisition represents Grosvenor Diversified Property Investment’s (GDPI) first investment in France through our joint venture with Bowery Europe and reflects our approach of backing specialist local partners who share our values and have a deep understanding of their markets.
"Bowery’s focus on operational excellence and ESG-led asset management aligns closely with our strategy to deliver long-term value, support sustainable urban logistics, and meet the evolving needs of occupiers. We look forward to working together to build a high-quality, resilient portfolio across France and Germany.”
ENDS
About Bowery Europe
Bowery is a pan-European investment and asset management firm specialising in logistics real estate. Founded in 2020 and headquartered in London, the firm is active across key European markets, with a particular focus on Germany, France and the Netherlands. Bowery provides institutional and first-time logistics investors with a single point of entry to diversified, cross-border logistics portfolios, combining deep local market expertise with a pan-European investment approach.
Bowery sources, acquires, repositions and manages logistics assets aligned with evolving supply chain, industrial and e-commerce demand dynamics. The firm offers flexible investment strategies tailored to its clients’ objectives. Led by founder Jean-Marie Caillon, formerly Managing Director of Acquisitions at Logicor, Bowery works on behalf of institutional investors to deliver strategic real estate solutions across Europe.
Further information on Bowery is available on its website: www.boweryeurope.com
About Grosvenor Diversified Property Investments
We’re part of Grosvenor, an international organisation with a track record of over 340 years. Within our global remit, we back specialist local property investment teams, who share our values and have a demonstrable investment track record. By investing Grosvenor’s own capital alongside local partners who have a clear understanding of the changing demands of real estate in their markets, we aim to generate strong commercial results, while advancing our social and environmental ambitions.
Since our first partnership in 2012, we’ve successfully backed aligned, specialist, local management teams across six continents and in a broad range of sectors including industrial/ logistics, student accommodation, life sciences, healthcare, housing, and offices.
Learn more: Diversified Property Investments.
About Grosvenor Diversified Property Investments
With a track record of almost 350 years, Grosvenor is an international developer, manager and investor improving property and places across many of the world’s leading cities.
Our Diversified Property Investments business co-invests with like-minded partners in third-party managed joint ventures to grow and diversify our exposure in regions, sectors and investment types that are beyond the focus of Grosvenor’s regional property operating companies.
We promote sustainability within the built environment, enhancing the wellbeing of our customers and communities to ensure that our activities can make a positive difference to society. Since our first partnership in 2011, we have invested across Europe, North and South America, India, Sub-Saharan Africa and Australia.
We are a values-led organisation which represents the Grosvenor family. Our work in property, alongside Grosvenor’s other activities in food and agtech, rural estate management and support for philanthropic initiatives shares a common purpose – to deliver lasting commercial, social and environmental benefit – addressing today’s needs while taking responsibility for those of future generations.
Charlotte Sutherland
Communications Executive
+447442649682
charlotte.sutherland@grosvenor.com