Gecina pre-lets “Le France” to WeWork for nearly 20,000 sq.m
Gecina has signed a 12-year lease with WeWork for the entire “Le France” building on Paris’ Left Bank (Rive Gauche), next to Station F, the world’s biggest startup incubator. Currently being redeveloped, the building will offer a total of nearly 20,000 sq.m and will be delivered in October 2018.
The signing of this lease, which was already subject to a preliminary agreement, takes the firm pre-letting rate for committed projects to be delivered in 2018 to approximately the 2/3.
This transaction confirms the trends observed on Paris City’s office markets, particularly for new or redeveloped buildings.
Méka Brunel, Chief Executive Officer: “This transaction once again confirms the very good performance by office markets in the Paris Region’s most central sectors, where the supply of quality properties is limited, enabling the Group to continue building on its dynamic value creation approach, thanks in particular to its pipeline”.
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Executive Director Investments and Developments
Thibault Ancely is an Essec MBA graduate and brings 14 years’ experience of finance and real estate. In 2001, Thibault joined Capital One Bank, where he held various...