Paris, Amsterdam, December 17, 2014
Press Release
Unibail-Rodamco SE announces a lease agreement with L'Oréal SA in the So Ouest Plaza tower in Levallois-Perret
Unibail-Rodamco, Europe's leading listed commercial property company, signed today a long-term (10 years) lease agreement with L'Oréal SA for 12 office floors of the So Ouest Plaza tower and one floor dedicated to restaurant for approximately 30,000 m2. In this transaction, L'Oréal SA was advised by Mobilitis, a corporate real estate consulting firm, and by the law firm of Gide Loyrette Nouel. Unibail-Rodamco was represented by White & Case.
The So Ouest Plaza tower completes the redevelopment of the So Ouest district including the So Ouest shopping center opened in 2012 and the So Ouest tower delivered in 2013 which was 100% leased to SAP and PRA. So Ouest Plaza offers a mixed-use development project that will feature an office tower, an 8-screen cinema and a restaurant. Designed by Barthélémy & Grino Architects, it was certified HQE "Excellent" and BREEAM "Excellent". The 41,000 m2 complex will be delivered in H-1 2015 and will comprise approximately 37,000 m2 of offices. The lease with L'Oreal SA represents 80% of the available office space. The total investment cost for Unibail-Rodamco is expected to amount to €220 Mn.
The building will feature Unibail-Rodamco's « The New Art of Working » and highlights the Group's skillset in terms of office redevelopment with a strong focus on the end user. L'Oreal SA will enter the premises early in 2016 following completion of a fit-out work program entrusted to Mobilitis.
When the two office towers So Ouest and So Ouest Plaza will be fully occupied and the cinema and the restaurant opened, the Group expects up to two million additional visits to the So Ouest shopping district every year.
Bruno Donjon de Saint Martin, Group Director of Offices for Unibail-Rodamco, says: "We are thrilled by the agreement signed with L'Oreal SA. This transaction signed before delivery of the building demonstrates the appeal of So Ouest Plaza's positioning which puts the well-being of employees at the heart of its design.
After the letting of approximately 50% of the Majunga tower, this new leasing agreement illustrates the ability of the Group to meet the stringent demands of important tenants and its expertise on the Paris region office market".
Investor relations
Julie Coulot
+33 1 76 77 57 22
Media relations
Pauline Duclos-Lenoir
+33 1 76 77 57 94
pauline.duclos-lenoir@unibail-rodamco.com (mailto:pauline.duclos-lenoir@unibail-rodamco.com)
About Unibail-Rodamco
Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €33.6 billion as of June 30, 2014. As an integrated operator, investor and developer, the Group covers the whole of the real estate value creation chain. With the support of its 1,550 professionals, Unibail-Rodamco applies those skills to highly specialized market segments such as large shopping centers in major European cities and large offices and convention & exhibition centers in the Paris region.
The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognized by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor's and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com (http://www.unibail-rodamco.com)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: UNIBAIL-RODAMCO SE via Globenewswire
