PARIS-The French Ministry of the Interior has leased about 400,000 square feet at Lumeire, a 1.4 million-square-foot building here, and will take occupancy in late 2012. Building owner Tishman Speyer is calling this transaction the largest office lease transaction ever completed in the city.
The property is at 40 avenue des Terroirs de France in the 12th District, part of the Eastern business district of the city. Built in 1992, the seven-story building has a two-story lobby and two separate wings. Other tenants include Natixis, ING Direct and Societe Generale.
Tishman owns the property as part of its European Strategic Office Fund, which controls office assets in several major European cities. Company officials said in a statement that this transaction brings the firm’s entire 10-building Paris portfolio, totaling about 3.8 million square feet, to nearly 100% leased.
Senior Managing Director Michael Spies, head of Tishman’s European operations, said the Lumiere building has proven to be an ideal investment for the fund. “Our local team has done a fantastic job in managing this asset to its full potential. Given its local prominence and superb location in the Paris office market, we anticipate that the property will continue to benefit from strong tenant demand,” he said in the statement.
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