Icade to sell office building in Boulogne-Billancourt for €45m

Icade to sell office building in Boulogne-Billancourt for €45m

Icade has signed a bilateral preliminary agreement with a French institutional investor for the sale of an office building located at 11-15 avenue Morizet in Boulogne-Billancourt (Hauts-de-Seine) for €45 milliıon.

Right in the city centre and 100 metres away from the Marcel Sembat metro station, the building covers almost 5,000 sq.m of office space with 131 parking spaces.

It also features extensive green terraces including a vegetable garden. Since 2008, the building has been fully leased to the holding company of a leading global network of marketing and communication agencies with a remaining lease term of nearly 4 years as of September 30, 2021.

The sale is expected to be completed before the end of 2021 once the customary conditions precedent have been satisfied.

Following the sale of the Millénaire 1 (Paris, 19th district) and Le Loire (Villejuif, Val-de-Marne) buildings in April and the Silky Way (Lyon, Rhône) building in early October, this transaction will bring the total amount of office asset disposals since the start of 2021 to over €500m, the company said.