Unibail-Rodamco - Sale of an 8,000 sq.m office building located at 3-5 Boulevard Malesherbes, in the heart of the Paris CBD, comprising retail space on the ground floor
The challenge was to sell one of the most striking properties in the Paris CBD, a trophy asset and former headquarters of the vendor. The office space is fully let to a large, international law firm at prime market rent and the retail space is occupied by national retailers.
Thanks to the quality of the asset, Cushman & Wakefield were able to secure the current rental value of the property and insist on the future potential rental upside of the retail units, given their location near Madeleine and Rue Royale.
Thanks to their expert knowledge of investor requirements, Cushman & Wakefield drew up a shortlist of potential purchasers to approach, who they knew would be keen on acquiring the asset.
Despite the short timeframe, a number of these investors put in an offer for the acquisition of the property.
Generali acquired the property under the conditions set out by Unibail Rodamco SE.