Primonial REIM has acquired an office building situated on Avenue d’Ivry in the 13th arrondisement in Paris from Emerige and AOG. This landmark building built in 1870 once belonged to ‘Panhard’ a French car manufacturer.
The engine factory was redeveloped into offices between 2010 and 2013 and offers a total leasable area of 21,700 m². The building is currently occupied by French national train company SNCF which just renewed its lease.
The total investment is reported to be around €165 million and was made on behalf of an OPCI investment fund managed by Primonial REIM.