{"id":1004478967,"date":"2020-09-21T00:41:25","date_gmt":"2020-09-21T08:41:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004478967"},"modified":"2020-09-21T05:36:37","modified_gmt":"2020-09-21T13:36:37","slug":"cbre-global-investors-sells-paris-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/","title":{"rendered":"CBRE Global Investors Sells Paris Office Building"},"content":{"rendered":"
\"\"<\/a>

Antares. Image courtesy of CBRE Global Investors<\/em><\/p><\/div>\n

DTZ Investors has acquired a fully leased office building in the western suburbs of Paris from CBRE Global Investors, which sold the property on behalf of one of its separate account clients.<\/p>\n

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READ ALSO<\/strong>: CPE\u2019s Coronavirus Coverage<\/a><\/p>\n

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The eight-story Paris-area office building<\/a> known as Antares was built in 2001 in the Boulogne-Billancourt area that is located west of central Paris. CBRE Global Investors acquired the property in 2007 on behalf of its separate account client, with plans for a major renovation. The company was also able to secure power tool manufacturer Hilti as the property\u2019s long-term tenant. Hilti occupies the entirety of the 10,442-square-meter (112,000-square-foot) office building.  <\/p>\n

Martijn Hop, senior portfolio manager at CBRE Global Investors, said in prepared remarks that it was a good time to sell the office after the company completed the improvement strategy and landed a long-term, reliable tenant that is paying a strong rent rate.<\/p>\n

Paris prospers despite COVID-19<\/h2>\n

Despite the COVID-19 pandemic\u2019s effects on the global real estate market, the Paris office market remains fundamentally strong, Gautier Beurnier, head of transactions in France for CBRE Global Investors, said in prepared remarks. Beurnier added in a prepared statement that the City of Lights has attracted foreign capital, while maintaining low vacancy rates.<\/p>\n

The Parisian development pipeline also remains active, with companies having broken ground on various projects recently. In April, Interxion began construction on a 431,000-square-foot data center development<\/a> that is being built in three phases. A month later, Ivanho\u00e9 Cambridge acquired a 538,200-square-foot office development in the Val de Fontenay section of Paris that\u2019s scheduled for completion in 2022.  <\/p>\n","protected":false},"excerpt":{"rendered":"

The Antares property is situated in the Boulogne-Billancourt area west of the city center. <\/p>\n","protected":false},"author":883,"featured_media":1004478970,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21742,21747],"tags":[35095,50260,33565],"class_list":["post-1004478967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-international","category-latest","category-office","tag-cbre-global-investors","tag-dtz-investors","tag-ivanhoe-cambridge"],"acf":[],"yoast_head":"\nCBRE Global Investors Sells Paris Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Global Investors Sells Paris Office Building\" \/>\n<meta property=\"og:description\" content=\"The Antares property is situated in the Boulogne-Billancourt area west of the city center.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-21T08:41:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-21T13:36:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/antares-paris-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/\",\"name\":\"CBRE Global Investors Sells Paris Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/antares-paris-scaled.jpg\",\"datePublished\":\"2020-09-21T08:41:25+00:00\",\"dateModified\":\"2020-09-21T13:36:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-global-investors-sells-paris-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/antares-paris-scaled.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/antares-paris-scaled.jpg\",\"width\":800,\"height\":620,\"caption\":\"Antares. 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