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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”.
20180618_PR Gecina - Le France pre-letting.pdf
June 18, 2018
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Thibault ANCELY
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...
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About Gecina
Gecina, at the heart of urban life
Gecina owns, manages and develops property holdings worth 19.3 billion euros at end 2018. As a specialist for centrality and uses, the Group is building its business around Europe’s leading office portfolio, with nearly 97% located in the Paris Region, and a diversification division with residential assets and student residences. Gecina has put sustainable innovation at the heart of its strategy to create value and anticipate the expectations of around 100,000 customers and end users, thanks to the dedication and expertise of its staff, who are committed to an understated, fluid and inclusive city. To offer its customers high-quality services and support their changing needs, Gecina has launched YouFirst, its relational brand.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.