Massy, FranceChemin des Femmes Buildings
This property consists of three contiguous office buildings with a total of about 20,500 sqm of space. Two of the buildings were built in the 1960's, and the third was built in 1995.
The site is located in Massy, situated south of Paris and not far from Orly Airport. The buildings are close to RER (the Paris regional train system) and TGV (high speed rail) stations.
The property was purchased by a TIGRE advised fund from a major multinational corporation, which leased back about 37% of the space under a 3/6/9 lease with a 6 year firm lease period. The remainder of the space is leased to three other tenants.
TIGRE has negotiated a one year termination agreement with the smallest of the tenants. The building in which this tenant is located will be demolished and replaced with a new structure providing over six times the leasable area.
This property was purchased in 2010 for 31,000,000 Euros, produces good cash flow and will be held for future sale.
- Location: Massy, France
- Project Type: Office Building
- Size: 20,500 sqm