Landmark Blue Tower in Brussels sold (BE)

Brussels’ Blue Tower has been sold by Morgan Stanley Real Estate Investment GmbH, advised by Savills and BNP RE, to Belgian REIT Befimmo for €78.5 million in the largest multi-let office deal since 2008.

The property is a prime asset in Brussels’ Louise office district, located in Av. Louise 326 in the city’s CBD.

The 24-floor building comprises 23,909 m² of office space with 329 m² of lettable retail space on the ground floor, as well as 3,679 m² of archive space and 335 underground parking units. It is BREEAM certified and tenants include LVMH, EDF, Bain & Company, Lazard, Heidrick & Struggles and Olswang.

Gregory Martin, Managing Director at Savills Belux, says: "The Blue Tower is a trophy office building in the Belgian capital with a very stable income and is located in the most important business district of Brussels. This represents the most significant multi-let office investment transaction in Belgium since 2008."

The Louise office district is the high end business hub of Brussels, which provides a good mix of retail, restaurant and office buildings.

Source: Savills

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