Oxford Properties Group (“Oxford”), a leading global real estate investor, developer and manager, today announced it has fully let 32 Rue Blanche, a 238,000 sq ft Class-A office building in Central Paris. This successful leasing programme follows the completion of a comprehensive renovation scheme, significantly upgrading the asset’s sustainability performance, amenities and technology capabilities, transforming 32 Rue Blanche into one of Paris’ most sustainable and connected workplaces.
Since acquiring the asset in 2014, as its entry into the French market, Oxford has amassed a leading multi-sector portfolio across France, representing approximately €1 billion in AUM. 32 Rue Blanche’s location within Paris’ vibrant 9th arrondissement established Oxford’s presence through a coveted footprint within Paris’ highly supply constrained office market. Supported by these market dynamics, Oxford negotiated long-term lease renewals with existing occupants Criteo and Mututelle Interiale ahead of starting a comprehensive capex programme to further drive value through the significant mark-to-market opportunities within 32 Rue Blanche’s newly unlocked space.
With today’s newly announced leases, joining leading French adtech firm Criteo (101,000 sq ft) and French public sector health insurer Mutuelle Interiale (24,000 sq ft) at 32 Rue Blanche are Sodexo (60,000 sq ft), EOS Imaging (31,000 sq ft) and Factset (14,000 sq ft), who have all signed on via long-term leases, illustrating the continued demand for high-quality, well-located, sustainable office product.
Source: press release sent 5 March 2024