French REIT Gecina has pre-let nearly 36,000 m3 of office space across its development portfolio to clients WeWork, Lacoste and MSD.
Thanks to these transactions, the pre-letting rate for Gecina's committed project portfolio has now reached 55%, highlighting the solid rental market trends for the Paris region's central districts.
With co-working specialist WeWork Gecina has signed a firm 12-year lease for a 12,000 m2 building in 7 rue de Madrid, in Paris' 8th arrondissement, starting from the second quarter of 2020.
In Paris' 16th district, Gecina has signed a firm seven-year lease with Lacoste from mid-2019 for the entire MAP-Montmorency building, encompassing 14,000 m2 of space.
At La Défense, Gecina has signed a lease for almost 30% of the 37,000 m2 Carré-Michelet building, with the pharmaceutical laboratory MSD for 10 years from mid-2019.
Méka Brunel, Chief Executive Officer said: 'The buoyant economic environment combined with the central positioning of our buildings is enabling us to continue creating value with our developments, while being able to count on the efficiency and effectiveness of our teams.'
