Icade has signed a bilateral preliminary agreement with an institutional investors to sell the Millénaire 4 building located in the Millénaire business park in the 19th district of Paris for €186 million.
This new building, covering nearly 24,600 sq.m, is fully leased to BNP Paribas and has a remaining lease term of 7 years. The building was completed in October 2016.
The disposal is expected to be completed in March 2022, once customary conditions precedent have been satisfied.
Following the sale of the 29,000-sq.m Millénaire 1 building in April 2021 and the Millénaire 2 and 3 buildings in recent years, Icade will complete the redevelopment of the Millénaire business park.
Icade said the sales completed in the Millénaire business park amount to nearly €740 million.