Thor Equities, a global leader in urban real estate development, leasing and management, has signed a contract to acquire a prime retail and office property at 102 Avenue des Champs-Elysees in Paris, company executives announced.
“102 Avenue des Champs-Elysees is at the center of one of the most desirable locations in the world, just blocks from the Arc de Triomphe and Place Charles de Gaulle,” said Joseph Sitt, CEO of Thor Equities.
“We continue to believe strongly in the Paris retail market, in particular prime shopping and tourist destinations such as the Champs-Elysees and Boulevard Haussmann.”
In December, Thor Equities purchased 51-53 Boulevard Haussmann in Paris, a 30,225 ft² (2,787 m²) building currently occupied by Benetton. Thor also owns 65-67 Avenue de Champs-Elysees.
102 Avenue des Champs-Elysees includes more than 7,400 ft² (650 m²) on four levels, with over 20 feet of direct frontage on the boulevard. The ground level, mezzanine and lower level are home to Le Queen, a famed Paris nightclub.
The Champs-Élysées is lined with renowned theaters, cafes and upscale retail brands such as Louis Vuitton, Tiffany’s, Cartier, Hugo Boss, Zara and Marks & Spencer.
Source: Thor Equities