AXA Real Estate completes 285,000 m² of lettings in French portfolio (FR)

AXA Real Estate, the leading real estate manager in Europe and second globally with €39 billion of assets under management, announces that it has signed 112 leases representing 285,000 m² of space across its French portfolio this year.

Of this total, 64, representing 199,000 m², were new leases, while the remaining 48, accounting for 86,000 m² of space, were lease renewals.

Within AXA Real Estate's office portfolio, 48 new leases totaling 60,000 m² have been signed and a further 41 lease renewals for 82,000 m² of space have been completed. As a result of these lettings, vacancy rates across the French office portfolio have sharply decreased since the start of the year. AXA Real Estate has also made solid progress on the, predominantly ground floor, retail elements of its office schemes having signed five new leases for a total of 6,600 m² of retail space, as well as five lease renewals for 3,000 m².

Within its French logistics portfolio, AXA Real Estate made three important lettings covering 132,000 m².

One of the largest office lettings this year was at AXA Real Estate's Porte du Parc asset in St. Ouen in northern Paris. GFI Group, a leading provider of wholesale brokerage, electronic execution and trading support products, has relocated its headquarters to this new HQE building, taking 11,000 m² on a nine-year lease. Cushman & Wakefield acted for AXA Real Estate on the letting.

Other major lettings in the French office portfolio since the start of the year have included:

  • The French regional health agency has taken 8,612 m² at AXA Real Estate's recently completed development, ONIX, located in Euralille, Lille. (Agent: BNP Paribas Real Estate).

  • Devanlay, part of the Maus Frères holding, has taken 5,400 m² of office space at Pelletier-Provence, a redeveloped property situated in the heart of Paris' financial district. (Agents: DTZ and DLL).

  • Eramet, a mining and metallurgical group, has taken 2,541 m², and asset manager, Amundi, has taken 1,709 m², at Tour Montparnasse, Paris 15th arrondissement. (Agent: CBRE).

  • EDF Energy, one of the largest European energy companies, has taken 1,735 m² of a recently renovated office at Avenue de Wagram, Paris 17th. (Agents: Strategies & Corps and Cushman & Wakefield).

  • Haworth, the world leader of office furniture, has set up its new headquarters in a 1,350 m² office within the old workshop of the ironworker Edgard Brandt, located at 101 Boulevard Murat in Paris' 16th.(Agents: CBRE and MOBILITIS).

  • The company Green Data Center leased 1,346 m² at 24-26 Avenue du Général de Gaulle in Suresnes. (Agent: CBRE).

  • In Toulouse, Dietsmann, a leading operator in the oil and gas industry, has taken 1,340 m² at AXA Real Estate's Anthylis office building in Mesple street. (Agent: DTZ).

  • SOGETI, leading player in IT and engineering services, leased 3,862 m² in the Axium – Colisee Marceau in Issy Les Moulineaux. (Agents BNP + ACTIOR).

Matthieu Ropert, Head of Letting Transactions, France, at AXA Real Estate, commented: "The volume of successful lettings we have secured so far this year reflects the breadth, quality and diversity of our portfolios, and our office portfolio in particular.

"As well as welcoming a host of high quality new tenants, we are further encouraged by the number of lease renewals we have signed with existing occupiers. We are confident that the portfolio will maintain in 2011 the high rate of lettings that we have witnessed so far in 2010."

Source: FD

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