The sale forms part of Lucette's plan to sell $271 million of assets. The building offers 267,590 square feet of office space and 289 parking spaces and is rented to companies including Regus, Expansience, Gefco and Ace.
It was acquired by Lucette in 2006. The sale is due to be completed before the end of the third quarter.
Icade, controlled by French state financing institution Caisse des Depots, agreed to take over the Morgan Stanley-controlled Lucette late last year in return for an undisclosed price that included an equity stake and cash.
Allan Saundersonis a managing editor of Property Finance Europe and a contributor to GlobeSt.com.Want to continue reading?
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