Gecina lets the entire “Le Cristallin” building in Boulogne-Billancourt to the Renault Group
Gecina has signed a 10-year lease with the Renault Group for the entire “Le Cristallin” building (11,600 sq.m) in Boulogne-Billancourt. Under this lease the space will be made available to the tenant from February 2016.
This next-generation building, delivered in 2016 following a redevelopment operation, is ideally
located next to Pont de Sèvres metro station on Line 9, as well as the future Line 15, which is scheduled for delivery in 2022 as part of the Grand Paris project. This asset is covered by a number of environmental certification frameworks and is notably the first Gecina building to be “Factor 4” certified (greenhouse gas emissions divided by four).
This building's redevelopment has delivered a yield on cost of nearly 8.2%.
This iconic operation illustrates Gecina’s strategic ambition to create value by gradually rolling out its project pipeline, valued at 3.7 billion euros at end-September, with 1.2 billion euros of projects already underway and primarily scheduled for delivery in 2018.
On this operation, Gecina was advised by BNP Paribas Real Estate and the law firm Taylor & Wessing.