Tishman Speyer secures 2nd largest leasing deal in Paris

Tishman Speyer has announced it has secured the second largest leasing deal of 2006 in Paris at its landmark office building Lumiere. Natixis, a major player in the French financial market, has leased 19,500 m² of office space, 1,100 m² of archives and 200 parking spaces at Lumiere, taking the building to 100% occupancy. Natixis is already a tenant of the real estate owner, developer and investor Tishman Speyer, occupying Paris Bourse in the city's financial district.

The Lumiere building is located on the Avenue des Terroirs, in the 12th arrondissement, and is the largest privately-owned office building in central Paris, providing over 130,000 m² of office space. Tishman Speyer, owner and manager of the property, has leased 31,500 m² of office and retail/warehouse space since acquiring the building in February 2006. Other significant tenants include fashion retailer Zara and enginerring company Foster Wheeler.

Commenting on the transaction, Bernard Penaud, managing director and head of France for Tishman Speyer, said that 'this deal represents a significant milestone in our ownership of this landmark building'. Tishman Speyer completed over 125,000 m² of leasing across Europe during 2006, including the largest leases in Frankfurt, Milan, Amsterdam, Hamburg and Paris. Cushman & Wakefield advised Tishman Speyer on the Lumiere transaction.

Tishman Speyer is one of the leading owners, developers, and operators of first class real estate in the world. Since its founding in 1978, the company has acquired or developed a portfolio of 9.7 million m2, valued at over EUR 28 bn.