CBRE Global Investors, on behalf of Zurich Insurance Plc, has acquired in an off-market deal an office building located at 17 rue d’Astorg in Paris. The vendor was a French institution.
The 2,000-square-meter (tk-square-foot) core office building is arranged over six floors and four basement levels. It is located in the heart of Paris’s CBD and is in one of the most prestigious and sought-after areas, with financial service companies and law firms tending to be the traditional tenant base. Built in 1909 and restructured in 1992, it is situated at the corner of rue d’Astorg and rue Roquépine and benefits from excellent transport links with immediate access to the metro and is in close proximity to Saint Lazare’s transport hub.
The asset is leased in its entirety to a recruitment agency specializing in finance and insurance and serves as the firm’s headquarters.
Matthias Hübner, head of real estate Europe, Zurich Insurance Group, said, “This acquisit
