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Nuveen Real Estate fully pre-lets ‘Liberty’ building at 36 Rue Lafayette, Paris
- 'Liberty' building managed by Nuveen Real Estate on behalf of its Cityhold Office Partnership (“CHOP”) venture
- The asset comprises 9,200 sq m (c. 99,000 sq ft) of flexible office space in the heart of the CBD
- The property is in the process of being comprehensively refurbished and is targeting BREEAM 'Excellent' and WELL Gold certification upon completion
Together, the two fixed nine-year leases cover the entire 'Liberty' office building, 18 months before its scheduled completion. The lettings have been agreed to Ekimetric, a leading data science firm, and law firm Bryan Cave.
The 9,200 sq m (c. 99,000 sq ft) property is currently undergoing a comprehensive refurbishment that will add 900 sq m (c. 9,700 sq ft) of usable space and will maintain and restore the building’s Haussmannian façade. Internally, the new layout will centre around an impressive atrium, which benefits from a ceiling height of 12 metres.
Strategically located at 36 Rue Lafayette (Paris 9), right in the heart of the CBD in the Opéra district, 'Liberty' is conveniently located, equidistant from the Gare Saint-Lazare and the Gare Du Nord rail stations. The works will seek to restore the connection between the building and its environment, with a focus on opening the main entranceway from Rue Lafayette and maximising sightlines towards its side entrances (Rue Provence and Rue Pelletier, Paris 9).
The finished building is expected to achieve an 'Excellent' rating from BREEAM, a Gold WELL certification and a Silver WiredScore rating, which recognises a high standard of digital connectivity in the workplace.
"The repositioning of this property – centred around maximising the flexibility of the space and its services, and making the most of its strategic location and high-quality architecture – is the reason we have been able to let the entire property to two top-tier occupiers. There is no doubt that Liberty appealed to these clients thanks to the quality of this refurbishment, focused firmly on user needs. This deal also reflects Nuveen Real Estate's ability to transform its portfolio and create value, well aligned with CHOP's wider build-to-core strategy,”" remarks Nicolas Bastid, Director of Asset Management for Nuveen Real Estate.
The project’s architects are Bouchaud Architectes, while Art Qad Architectes are the interior designers, under the guidance of Theop as technical advisor. The construction contract was awarded to Dumez.
The leases were brokered by BNP Paribas RE and Cushman & Wakefield on a co-exclusivity basis, with Stratégies & Corp and Colliers representing the lessees.
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Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.