Principal Real Estate Europe, on behalf of the Principal European Office Fund (PEOF), and Cepac Foncière have jointly acquired the Astrolabe office building in Marseille through their new OPPCI OP-SUD from Covivio and PREDICA. A sales price was not disclosed.
Located on the boulevard de Dunkerque, in the heart of the Euromed business district in Marseille (the third-most important business district in France), Astrolabe is a 15,000-square-meter (160,000-square-foot) office building comprising seven floors. A landmark building in the Euromed Center, opposite the Cepac Silo, it is in an optimal location and is fully let to 10 high-quality tenants.
