BBVA Sells Paris Headquarters

BBVA Sells Paris Headquarters

Commercial News » Done Deals | By WPC Deals Team | April 19, 2013 11:37 AM ET

Spanish banking group BBVA has sold their Paris headquarters and agreed to a leaseback for the space, as the company aims to optimize its property holdings, according to a new release.  

An investor purchased the 2,000-square-meter building located at 29 Avenue de l'Opéra (Paris 1) for €32 million.  

During the first quarter of 2013, office space take-up dropped 24 percent to 393,500 square meters in the Paris Ile-de-France region, according to Immostat and IPD France data.

Overall, Europe commercial investment has been strong in the first quarter, according to the latest CBRE report.

Cushman & Wakefield and BNP Paribas Real Estate advised BBVA.

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