Cushman & Wakefield Investors Sells in France
Cushman & Wakefield Investors (CWI) has sold two properties in France on behalf of a Swedish pension fund. The assets, totalling 8,945 square metres of mixed office and light industrial space near Lyon, were sold to an open-end regional fund for e18.07 million. The assets are located in le Parc Technologique in St Priest; CWI acquired the assets in 2008 from Bouygues Immobilier under a forward purchase agreement.
“With strong relationships and experience in France, Cushman & Wakefield Investors has leased over 10,000 square metres in 2010 and has succeeded in attracting good-quality tenants to these and other assets,” says David Rendall, European CEO at CWI. “These properties are ideal for regional HQ buildings for the increasing number of French and international occupiers looking to expand outside of the Île-de-France market.”