Hines European Value Added Fund signs lease with Lilly France for new HQ in Riva building in Paris (FR)

Hines, the international real estate firm, has announced that the Hines European Value Added Fund (HEVAF) has signed a long-term lease with Lilly France for 74,500 ft² (approx. 7,000 m²) of office space to occupy the entire Riva building in Neuilly-sur-Seine. The pharmaceutical company will move into their new headquarters in the second quarter of 2012.

Riva Building

The Riva building is located on the Ile de Jatte in Neuilly-sur-Seine.

The Riva building, which has Haute Qualité Environnementale (HQE®) certification, is located on the Ile de Jatte in Neuilly-sur-Seine in France between the west of central Paris and La Défense.

Hines France provides leasing management services to the HEVAF, and also provided development management services for the fund for the building's refurbishment. Designed by the French architects Carlo Maria Natale and Associates, the renovation included the addition of a large landscaped garden area surrounding the seven-story building, which is characterized by its light, practical functionality and aesthetic quality. Lilly France's employees will benefit from a spacious restaurant opening on to the garden area, as well as rooftop terraces.

"I am committed to ensuring that this new headquarters represents an opportunity for all employees to work in a pleasant working environment, and I am confident it will give momentum to our company," said Marcel Lechanteur, CEO Lilly France.

This lease strengthens the Hines France resumé of headquarters experience in the Paris region, having previously worked with headquarters office space for tenants including: M6TV, Havas, Prisma Presse, Vallourec, Gemalto and l'Equipe.

CBRE represented both parties in lease negotiations. Lacourte-Balas-Raquin legally advised the HEVAF, and Herbert Smith advised Lilly France. Cushman & Wakefield provides property management services at the Riva building.

Source: Hines

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