KanAm Grund Group's Leading Cities Invest public fund continues to expand its French portfolio with the latest acquisition in Nice. The property is a mixed-use building on the Avenue Notre Dame in Nice. The five-story building, located 300 meters from the TGV station Nice-Ville in the Jean Médecin Quarter, comprises office and retail space and features outdoor parking facility. It is currently fully let to eleven companies and shopping outlets. The purchase price was not disclosed. Following the acquisition, Leading Cities Invest now holds investments in 16 locations across five countries.
With around 340,000 inhabitants, Nice is the second biggest city after Marseilles in the Provence-Alpes-Cote d'Azur region on the French Mediterranean coast. The mainstay of the economy in France's fifth largest city lies primarily in the tourism, technology and research industries. Located at 22/26 Avenue Notre Dame, the newly purchased asset benefits from being directly adjacent to the main shopping streets, and is expected to take advantage of it in the coming months.
The Leading Cities Invest takes advantage of the growth potential of future-oriented cities with a high potential for further development and harnesses it for private investors. The investment spectrum includes a range of different types of commercial properties, from select office buildings, retail outlets and renowned High Street properties to hotels.
