A dynamic Q1 in commercial real estate investment in France.

The volume of commercial real estate investment in the first quarter of 2023 is down 12% from the record high of 2022, but it is still up 78% on the ten-year average.

The real estate specialists Cushman & Wakefield estimate an investment volume of €1.3 billion. This result "positions the retail space segment just below the tertiary sector, with an unchallenged market share of 40% of total non-residential real estate investment. "

41% of all transactions involve shopping centers, while 34% involve downtown properties. Three major projects buoyed the market between January and March 2023, including Swedish stock company Ingka's (Ikea) acquisition of the Italie De shopping center inParis and its extension "Italic".

With regard to the new retail units due to appear in 2023

Cushman & Wakefield specifies that the space for retail openings reaches 725,000 square meters, almost double that of 2022 and close to the 2019 level. Shopping centers are back with 46% of the space available for opening, mostly expansions and renovations of existing retail space.

In addition, according to analysts

the rental market, which.stabilize in values, remains dynamic in Paris and in the main regional metropolises, although the flow of consumers seems to have slowed down gradually since the beginning of the year, and this applies to all types of trade. "Stores that want to fix their position before the opening of the Olympic Games are entering the final straight. The countdown is on, especially among sports stores, which are engaged in the medium and large space segment and continue to stimulate rental activity in city centers," said Christian Dubois, retail director at Cushman & Wakefield in France.

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