PARIS--(BUSINESS WIRE)--Regulatory News:
Gecina (Paris:GFC) has signed three leases with outstanding tenants concerning three iconic buildings from its development pipeline, representing almost 36,000 sq.m. These three leases have been finalized with WeWork, Lacoste et MSD well upstream from the delivery of these assets.
Thanks to these transactions, the pre-letting rate for the committed project portfolio is now up to 55%, highlighting the solid rental market trends for the Paris Region's most central sectors.
7 rue de Madrid (Paris 8th, 11,800 sq.m)
Gecina has signed a firm 12-year lease with WeWork for the whole building from the second quarter of 2020.
MAP-Montmorency (Paris 16th, 13,800 sq.m)
Gecina has signed a firm seven-year lease with Lacoste from mid-2019 for the entire building.
Carré-Michelet (Paris - La Défense, 36,800 sq.m)
Gecina has signed a lease for almost 30% of the building, i.e. 10,600 sq.m, with the pharmaceutical laboratory MSD for 10 years from mid-2019.
Méka Brunel, Chief Executive Officer: “The buoyant economic environment combined with the central positioning of our buildings is enabling us to continue creating value with our developments, while being able to count on the efficiency and effectiveness of our teams”.
Gecina, living the city in a different way
Gecina owns, manages and develops property holdings worth 19.6 billion euros at end-2017, with nearly 93% located in the Paris Region. The Group is building its business around France’s leading office portfolio and a diversification division with residential assets and student residences. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers’ expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its community commitments, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.