PARIS—A massive lease of 575,000 square feet has been signed here by the French government with New York City-based Tishman Speyer. The lease will allow the government to contract two of its ministries into one asset.
In what is being called the largest in the Paris metro in a year and the largest in La Defense district since 2008, Tishman has signed the Ministry of Housing and the Ministry of Ecology to space at Tour Esplanade. When the ministries move in, expected by mid-2014, they will occupy the full asset.
The asset, which has been recognized for its environmentally friendly design, is a 36-story office tower strategically located in La Defense, Europe's largest business district, between the CNIT exhibition center and the Grande Arche near the main pedestrian avenue. Tour Esplanade was built in 1990 and renovated in 2011.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
