Fonciere des Regions has announced that French water treatment firm Suez Environment is to lease 42,000 m[sup]2[/sup] of space at the CB 21 Tower in La Defense business district in Paris. 'This transaction is excellent news for the office market and it confirms the attractiveness of La Defense to leading companies,' Christophe Kullmann, CEO of Fonciere des Regions said. The transaction will be finalised following the current period of consultation with Suez Environnement's employee representative bodies.
Fonciere des Regions has announced that French water treatment firm Suez Environment is to lease 42,000 m2 of space at the CB 21 Tower in La Defense business district in Paris. 'This transaction is excellent news for the office market and it confirms the attractiveness of La Defense to leading companies,' Christophe Kullmann, CEO of Fonciere des Regions said. The transaction will be finalised following the current period of consultation with Suez Environnement's employee representative bodies.
Kullmann said CB 21 Tower will be extensively renovated in order to offer the same level of service as a new property. Two-thirds of the tower is pre-leased. The CEO said Fonciere des Regions has adapted the initial plan for the CB 21 Tower to meet the needs of a major tenant.
The renovated property will have a useable area of 68,000 m2 delivered in two parts: at the end of 2009 and in the course of 2010. This is ahead of the originally scheduled delivery date in 2011. However, the French SIIC (real estate investment trust) also revealed that the planned 25,000 m2 extension of the tower for which a permit was obtained in September 2008 will no longer go ahead.
