CBRE Global Investors has acquired the Marché Saint Honoré building in Paris, France, on behalf of one of its funds, for an undisclosed sum.
The property, located in the centre of Paris, comprises around 15,000 m2 of office space and 1,800 m2 of retail space. The building is mainly occupied by BNP Paribas Bank who will remain in the premises over the next few years.
'The fantastic location and uniqueness of the building allows our fund to pursue a long-term strategy with a core tenant in a core location,' commented Gautier Beurnier, head of transactions France, CBRE GI. 'There is also considerable potential to upgrade the building in order to meet demand from new tenants for large modern office and retail space in the heart of Paris.'
'This acquisition fits perfectly within our strategy to invest in the most attractive European cities with strong long-term economic fundamentals. Paris is one of our key target markets and we are delighted to have secured this exceptional asset on behalf of our client,' said John Mulqueen, head of transactions EMEA, CBRE GI.
CBRE Global investors was advised by Linklaters, l’Etude Lasaygues, Reed Smith, PwC, Property S², Ramboll Environ and Knight Frank.
