Paris-listed Societe de la Tour Eiffel has become the sole owner of Parc du Perray in the French city of Nantes after signing a purchase agreement for the acquisition of an obsolete 1,500-m[sup]2[/sup] office building on the site.
Paris-listed Societe de la Tour Eiffel has become the sole owner of Parc du Perray in the French city of Nantes after signing a purchase agreement for the acquisition of an obsolete 1,500-m2 office building on the site.
STE said the premises will be entirely renovated and be ready for occupation by 2010. The previous tenant, EURIAL, will move into a built-to-suit building rented on a 6/9 year lease, on an adjoining site.
STE has also acquired two buildings from their owner-occupiers in ile Parc des Aygalades in Marseilles. The first one is a 3,000-m2 warehouse, in which the vendor will stay as tenant with a 6/9 year lease. The second is a 500-m2 office suite, which will be fully refurbished and put on the market. With these transactions, STE now owns 85% of the park.
STE launched the Parc Eiffel brand for its 12 business parks at the beginning of 2008. The company's portfolio stands at about EUR 1.2 bn of assets spread between the Paris area and the regions.
