Icade to invest in 20,000 m[sup]2[/sup] office building near Toulouse

French real estate investment trust Icade is to develop a 20,000 m² energy efficient office building next to Toulouse Blagnac Airport. The French property developer plans to remain owner of the building, which will include five floors of office space, a restaurant, a fitness area and 640 parking spaces on three underground levels. The developer and investor plans to obtain the French energy certificate THPE - Tres haute performance energetique - for the building.

Icade, which would not disclose the investment planned for the scheme, said that the construction permit is already in place and work is due to start in January 2009.