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Cloud.Paris JP Mesguen
SFL (Paris:FLY) has let close to 10,000 sq.m. in the Cloud.Paris building to a new tenant, in a benchmark transaction in the CBD.
The 10,000 sq.m. unit, including infrastructure for around 10%, had been let to Exane since 2015 and is being vacated in two phases. It comprises large 3,400 sq.m. floors and terraces with panoramic views over Paris.
The new tenant is making a long-term commitment, signing a 12-year lease with a non-cancellable period of nine years, at an average rent of €940/sq.m.
Its choice of Cloud.Paris attests to the quality and durability of the asset's positioning. The 35,000 sq.m. business centre was extensively remodelled and refurbished in 2015 and is ideally located in the heart of the 2nd arrondissement of Paris, close to the Paris Bourse.
Its architecture and design, very high environmental quality and large floor plates attract tenants that are leaders in their respective markets and expect very high standards of performance.
Virginie Krafft, SFL Marketing Director, said: "Prime offices are still in strong demand among the world's leading companies that want to offer their employees a unique working environment in the centre of Paris. This deal also shows that leading companies all want the same thing in terms of office facilities, whatever their business sector, with luxury goods joining finance and tech in Cloud.Paris, which houses Meta's French headquarters".
Following this transaction, the business centre will continue to be fully let, to five blue-chip tenants (including Coty, Generali Global Infrastructure and Royal Bank of Canada).
Exane was represented in this transaction by BNP Paribas Real Estate.
About SFL
Leader in the prime segment of the Parisian commercial real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €8.2 billion and is focused on the Central Business District of Paris (cloud.paris, Edouard VII, Washington Plaza, etc.), and for the quality of its client portfolio, which is composed of prestigious companies in the consulting, media, digital, luxury, finance and insurance sectors. As France's oldest property company, SFL demonstrates year after year an unwavering commitment to its strategy focused on creating a high value in use for users and, ultimately, substantial appraisal values for its properties.
Stock market: Euronext Paris Compartment A Euronext Paris ISIN FR0000033409 Bloomberg: FLY FP Reuters: FLYP PA
S&P rating: BBB+ stable outlook
View source version on businesswire.com: https://www.businesswire.com/news/home/20230606005871/en/
Contacts:
SFL Thomas Fareng T +33 (0)1 42 97 27 00 t.fareng@fonciere-lyonnaise.com
www.fonciere-lyonnaise.com
