LONDON—Canary Wharf Group plc and Societe Generale have agreed a pre let of around 280,000 square feet in a new 700,000-square-foot office building to be constructed by Canary Wharf Group plc at 1 Bank Street, Canary Wharf in London.
Societe Generale will occupy the ground and first to seventh floors in this 26-story building on a 25-year lease at a rent of about $76 (£47.50) per square foot and 36 months rent free commencing from the summer of 2019. Societe Generale also has an option to hand back a floor of approximately 31,000 square-foot at year 10 as well as options to take additional space on levels 8 and 9.
Work commenced on this site earlier in 2014 and the remaining space in the development will be marketed to potential office tenants as construction progresses.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
