Tishman Speyer secures major leasing deal in Paris (FR)

Tishman Speyer announced today that it has secured the second largest leasing deal in central Paris of 2006 at its landmark office building, Lumière.

Natixis, a leading player in the French financial market, has leased 19,500 m² of office space, 1,100 m² of archives and 200 car parking spaces at Lumière, taking the building to 100% occupancy. Natixis is already a major tenant of Tishman Speyer's, occupying Paris Bourse in the city's financial district.

Located on the Avenue des Terroirs in the 12th arrondissement, Lumière is the largest privately owned office building in central Paris, providing over 130,000 m² of office space. Tishman Speyer, who owns and manages the property, has leased 31,500 m² of office and retail/warehouse space since acquiring the building in February 2006. Other significant leases have included Zara and Foster Wheeler.

Commenting on the transaction, Bernard Penaud, Managing Director and Head of France for Tishman Speyer, said: "This deal represents a significant milestone in our ownership of this landmark building. Reaching 100% occupancy at Paris' largest privately owned office development shows that our strategy of investing in assets where we can add value is delivering real benefits for our clients and securing excellent returns for our investors. We are also delighted to be working again with Natixis and look forward to continuing to grow our portfolio in Paris."

Across Europe, Tishman Speyer completed over 125,000 m² of leasing during 2006, including among the largest leases in Frankfurt, Milan, Amsterdam, Hamburg and Paris.

Cushman & Wakefield advised Tishman Speyer on the Lumière transaction.

Source: Tishman Speyer

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