(HOUSTON) – Hines, the international real estate firm, announced today that Hines France, acting in its capacity as asset manager for HECF, has signed leases with two new tenants in the Eurosquare 1 building, just outside Paris in the Saint-Ouen Victor Hugo business district, occupying 4,400 square meters of office space. Quintiles, the world leader in the fields of clinical research, license concessions and the marketing of new drugs, signed a lease for 3,259 square meters; and Amos European Services, an Allianz subsidiary, signed a lease for 1,140 square meters.
The 15,000-square-meter Eurosquare 1 is a functional, urban building that is ideally located in the heart of the city, in close proximity to public transport systems (RER C and the future metro line 14). These two new transactions underpin the attractiveness of both the building and the district, whose accessibility will improve greatly once metro line 14 has been extended, linking the area to the center of Paris.
Leasing activity has been busy over the past few months, and the building is 75 percent leased with 3,800 square meters still available.
Since advising on the acquisition of the building, Hines France has steered an ambitious reclassification program for this asset on the basis of its qualities. The company has completely overhauled the building, from its decoration to its common spaces and landscaping; has added a 250-square-meter fitness area and won HQE Operating certification, making the building more modern and attractive.
The advisors to Quintiles were Nexity and Altana, a law firm. The advisors to Amos European Services were CBRE and the law firm Lefèvre Pelletier & Associés. The law firm that worked with HECF was Lacourte Raquin Tatar, and for the transaction with Quintiles Cushman & Wakefield advised HECF.
HECF is a Euro-denominated, Luxembourg-regulated Fonds de Commun de Placement (FCP-FIS) managed by Hines and created to acquire a geographically diverse portfolio of core commercial buildings across Europe.
Recognized for its quality architecture, environmental technical know-how and its achievements, since its creation in 1995, Hines France has made its name as one of the major players in tertiary real-estate promotion in the Ile-de-France area.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 199 cities in 19 countries. Hines has $87 billion of assets under management, including $43 billion for which Hines provides fiduciary investment management services, and $44 billion for which Hines provides third-party property-level services. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,100 properties, totaling over 346 million square feet. The firm’s current property and asset management portfolio includes 531 properties, representing over 186 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.