Ardian, a world leading private investment house, and French multinational pharma company Sanofi, have agreed on a lease for a post-Haussmann style office complex in Paris. Ardian acquired the office building, located at 46-48 Avenue de la Grande Armée, near Porte Maillot and Place de l’Étoile, in July 2018.
The building, which will cover almost 9,200sqm, comprises two interconnected six- and eight-story buildings. It is a Paris landmark boasting more than a century of history. The project, which is entrusted to Franklin Azzi Architecture, aims to restore the building’s Parisian industrial-era roots from the turn of the 20th century through extensive renovation and modernization – tastefully blending art deco and industrial design.
The project was carefully designed to ensure that it retains authenticity while offering enhanced amenities to create a unique work environment. The building, including the top two terrace floors and distinctive rooftop with emblematic Parisian views, is currently under construction and will be completed in 2022.
Sanofi, with this building as its future world headquarters, intends to offer all its employees a state-of-the-art working environment, to enable greater collaboration between teams, through flexible working facilities.
This choice confirms Sanofi’s commitment to meeting its employees’ changing needs and expectations.
Ardian signed the forward-funded sale of the vacant building to institutional investor BNP Paribas Cardif, in May 2019. Ardian had retained the responsibility to market lease agreements related to the building.
This lease follows the recent announcement of the signing of long-term leases on the RIO project, also developed by Ardian Real Estate, in the 8th arrondissement.
Source : Ardian