ING Real Estate has acquired the Triangle Part-Dieu office building in Lyon, France, for EUR 41 mln on behalf of its European Office Fund. The property is located in Lyon's central business district, the most sought after location by tenants in the area.
ING Real Estate has acquired the Triangle Part-Dieu office building in Lyon, France, for EUR 41 mln on behalf of its European Office Fund. The property is located in Lyon's central business district, the most sought after location by tenants in the area.
Triangle Part-Dieu will comprise floor space of around 12,000 m2 and 249 parking spaces. The property has been awarded the Pyramide d'Argent prize for its outstanding design and is scheduled for delivery in the third quarter of 2007. Banks and insurance companies will be the main tenants, and strong interest in the property is being registered across all service industries.
‘The Lyon Part-Dieu real estate market is currently very attractive for investors because no other new buildings will be delivered in the area within the next 18 months. We now see the first signs of real rental growth in the market, and we expect this to continue in the near future,’ said Leo Weidenaar, manager of ING Real Estate European Office Fund.