CBRE Global Investors sells Paris office building

CBRE Global Investors has sold the Antares office building in Paris to an institutional client of DTZ Investors. The financial terms and new owner were not disclosed.

Antares is a modern, high-quality office building in the Boulogne-Billancourt area to the west of central Paris. The 10,442-square-meter (112,400-square-foot), eight-story property was built in 2001 and was acquired by CBRE Global Investors, on behalf of its separate account client, in 2007. It has been comprehensively refurbished under CBRE Global Investors’ ownership and is fully leased to Hilti, an international technology, software and services provider to the construction industry, on a long-term lease.

“Having made significant improvements to this property and secured a blue-chip tenant at a strong rent, now was a good time to sell, delivering an impressive return for our client after successfully executing our business plan,” said Martijn Hop, senior portfolio manager at CBRE Global Investor