The logistics real estate market in France

Investors put €3.1 billion into logistics real estate in France in 2025, down 20% year on year, according to BNP Paribas Real Estate, after €4 billion in 2024. The number of transactions nevertheless rose by 25%, to 105 deals: it is the average deal size that fell. The prime yield, which had fallen to 4.70% in the first half of 2025, ends the year at 4.90%. In 2024, 81% of volumes came from foreign investors, according to Le Nouvel Économiste.

Logistics real estate in France has moved from shortage to surplus. According to BNP Paribas Real Estate, the warehouse vacancy rate reached 6.2% at the end of 2025, against 5.1% at the end of 2024, and supply available within a year stands at nearly 6.3 million m², up 15%. Second-hand grade A platforms make up more than half of that supply. Le Nouvel Économiste still reported a vacancy rate below 4% in 2023.

Logistics real estate rents in France have stabilised after the sharp rise of 2021 to 2023, but vary across regions. According to BNP Paribas Real Estate, the prime rent reached a record €89 per m² per year in Île-de-France in 2025, with rises also in Lyon and Toulouse, while other markets have remained broadly stable for two years. French rents remain competitive against other major European markets.

Logistics real estate in France brings together specialist investors and developers, such as Prologis and Segro, as well as users and logistics providers. According to Supply chain magazine, third-party logistics providers (3PLs) account for 50 to 55% of recent take-up. Large users sign the XXL deals: Amazon at Illiers-Combray (123,000 m²) and Beauvais (111,000 m²), according to Stratégies logistique. In urban logistics, Indigo and Corsalis aim for more than 50,000 m² by 2030, according to Les Echos.

Logistics real estate in France is subject to the décret tertiaire (the French tertiary buildings decree), which requires a 40% cut in building energy consumption by 2030, and to the décret BACS (the French building automation decree), which requires building management systems in buildings of more than 5,000 m², according to Le Nouvel Économiste. The Zéro artificialisation nette (ZAN, the French net-zero land take target) makes land scarcer. Debates on the 2025 finance act (loi de finances) covered extending the Tascom (the French retail floor-space tax) to buildings of more than 10,000 m², according to Stratégies logistique.

A PDF report in French, 2026 edition, organised in six chapters: definition and scope of logistics real estate, market size and dynamics, user demand, supply and players, regulation and land constraints, and outlook.

SDES and National Logistics Observatory statistics, the market reviews of commercial real estate advisers, regulatory texts and trade press articles from the IndexPresse database. Every figure comes with its source and period.

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Investors and property companies, warehouse developers, shippers and logistics providers, local authorities, as well as consultants and bankers who need to understand logistics real estate in France.

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