CBRE Investors launches two office projects in France

CB Richard Ellis Investors announced on Monday that it has launched two office developments in Montevrain, France, with a total surface area of 24,500 m².

The projects are Citalys, a 9,000-m² building let with a 12-year lease without a break option, and Citalium, a 15,500-m² speculative project. Both developments were launched on behalf of CB Richard Ellis Strategic Partners Europe Fund III.

'These developments play into the strategy initiated by CBRE Investors on behalf of its funds: positioning on newly constructed sites, in close proximity to public transportation with a high quality environmental policy and offering a menu of services for future tenants,' Christine Sonnier, Managing Director at CBRE Investors told PropertyEU.

She added: 'Just 35 minutes from the centre of Paris via the RER A and near to the SNCF Chessy Val d’Europe station, the buildings are linked to the key European capitals in two hours. Citalium will be able to attract users focussed on ease of accessibility, seeking to evolve in an eco-friendly, high quality environment.'

CBRE Investors said the sites are adjacent to the RER A (Val D'Europe - Serris - Montevrain) and located next to the Val d'Europe shopping mall, Disneyland Resort Paris, the A4 motorway and the Thalys - Eurostar - TGV connection (with service to Roissy-Charles de Gaulle airport).

The two buildings, signed by SCAU - Macary - Delamain, will be developed by Les Nouveaux Constructeurs group through real estate development contracts. The buildings will achieve international standards (Grade A Buildings).

CBRE Investors said Citalium will incorporate the most recent criteria in terms of environmental awareness (HQE certification). Scheduled for completion at end 2010, it will also offer several amenities consistent with the 'Five-Star Service' programme, such as a concierge, fitness centre, and cafeteria.

The two sites were acquired from l’Etablissement Public d’Aménagement de la ville nouvelle de Marne-la-Vallee (EPAMARNE). The transactions were completed by the CBRE Agency - Agence Bureau Est.

The financing was provided by SNS Property Finance.