Aviva buys an Art Deco office building in Neuilly-sur-Seine
Aviva Investors Real Estate France, a subsidiary of Abeille Assurances, has acquired the “Inpost”, a period office building in Paris from CBRE Investment Management.
The Art Deco building, a former post office built in 1928, is located at 66-70 Avenue Charles de Gaulle in the centre of Neuilly-sur-Seine, between La Défense District and the Central Business district of Paris.
“We are delighted to have acquired a prime office building in the heart of Neuilly-sur-Seine on an off-market basis”, said Gregoire Bally-Salins, Head of Transactions Europe, Aviva Investors Real Estate France. “Inpost is one of the most iconic assets in the city”.
CBRE IM sold the asset on behalf of one of their separate account clients.
The area is composed of mostly residential neighborhoods and many corporate headquarters and the Inpost building is within easy reach of public transport.
The building, which was fully refurbished in 2006, offers a total of approximately 4 500m² of office and retail spaces over a ground floor, five upper floors, and two underground floors with parking spaces.
Organized around an open inner courtyard, the asset offers large functional office spaces with high ceiling heights and terraces on the top two floors. The building is fully let and it has been granted a NF HQE environmental certification.
The Paris office market has shown promise in 2022 so far, with strong activity seen across all space segments and most markets.