Hines European Core Fund (HECF) has signed a nine-year lease providing SCA with 6,800 square meters (73,000 square feet) in three floors of the Eurosquare building at Saint-Ouen.
The 300 employees at SCA, a European leader in the hygiene products sector, are moving into their new offices and getting to know their new working environment, which was outfitted by Jones Lang LaSalle.
With a total of 15,000 square meters (161,000 square feet) of offices, Eurosquare is a city-scale building in an ideal location at the gateway to Paris. It stands in the town center and is in close proximity to public transportation, especially the RERC and the future Line 14 Metro station.
HECF has leveraged its extensive experience to obtain HQE®Exploitation certification, THPE equivalency and re-leasing the building. Studios Architecture have completely redesigned the lobby, the landings and the common areas, giving them a sleek, modern feel. The washrooms and fitness center have been designed by the Wilmotte & Associés architecture firm.
“We wanted to give SCA staff high-quality, functional, warm and friendly work spaces,” explains Eric Plu, HR director of SCA France. “Staff wellbeing was one of the key criteria that determined our choices”.
“The location, the building’s intrinsic qualities, and the improvements that have been made, give Eurosquare all it needs to offer SCA and its staff the highest-building standards and an outstanding working environment. SCA’s arrival in the building has provided us with the opportunity to add a state-of-the-art, 250-square-meter (2,700-square-foot) fitness area designed by Jean-Michel Wilmotte, accessible to all the building’s occupants. 8,200 square meters (88,000 square feet) are still available for lease by one or several companies who care about both the wellbeing of their staff and current economic constraints,” says Xavier Musseau, managing director- investment management.
The transaction was carried out with the real estate firm Jones Lang LaSalle. The law firm that handled the transaction for HECF is Lacourte Balas Raquin.
The building is managed by Yxime, and the fitness facilities by Corporate Gym.
_**Set up in 2007, Hines European Core Fund is a Luxembourg-based, euro-denominated investment fund. Managed by the Hines group, its aim is to build a large portfolio of tertiary-use buildings across Europe. HECF currently manages nine buildings in three European countries (France, Germany and the UK).
_**The international group SCA is a leading player in the hygiene and forest products sector. SCA develops and manufactures personal care, tissue and forest products and sells in about 100 countries via well known global brands such as TENA and Tork and strong regional brands including Lotus, Libresse, Tempo and Libero. The largest private forest owner in Europe, SCA attaches great importance to sustainable and responsible forest management. At the end of 2013 the group had a payroll of over 34,000 employees, and its turnover was 10.3 billion euros. Founded in 1929, SCA is listed on the NASDAQ OMX stock exchange in Stockholm, Sweden, where its world headquarters is also located.
SCA employs 2,750 staff in France, working in seven locations (six factories and an R&D center). SCA manufactures and markets leading hygiene products under the brands Demak’Up, Lotus, Nana, Okay, TENA and Up&Go, as well as Lotus Professional and Tork for professional and public-sector clients.