Workstation in Paris Secures Two New Tenants

(PARIS) – Hines, the global real estate firm, announces the lease, in joint venture with a major institutional investor, of 6,500 square meters of office space to Wacano, a subsidiary of the Chamber of Commerce and Industry of Paris Île-de-France, and IT services provider, Septeo, at Workstation. Hines is the asset manager of the Workstation building.

The workstation building is located on the banks of the River Seine, close to Paris La Défense, in Courbevoie. The property spans c.41,000-square-metres with 3,500 square meters of high-quality amenities including: a 200-seat public auditorium, a lounge, 3 restaurants, 2 wellbeing areas, a 600 square meter fitness center, 700 car parking spaces, 100 bicycle spaces and concierge services. In addition, Workstation has 1,500 square meters of garden and a 350 square meter roof terrace.

Wacano will move into the space in July 2022 on an 11-year lease occupying 2,869 square meters across two floors for local entrepreneurs and start-ups in addition to providing support services for local business growth. In October 2022, Septeo’s management team will move into Workstation committing to 3,716 square meters of space on an extendible long-lease, part of which provide idealistic views of the Seine.

Wacano and Septeo join Eurogroup, I-Tracing, Kantar, LG Electronics, MG Motors, and Promotrans at Workstation. Workstation continues to maintain strong leasing momentum and has 15,500 square meters now available.

“In just 6 months, 20,000 square meters of space has been leased at Workstation to a mix of public and private sector companies. This validates our value-add strategy at Workstation with a major refurbishment completed including provision for multiple high-end services placing strong emphasis on ESG. To meet the expectations of tomorrow’s workers, the building is reminiscent of a high-quality hotel which continues to attract companies on long leases,” commented Xavier Musseau, president of Hines in France.

Advisers include CBRE, Cushman & Wakefield, Lacourte Raquin Tatar and BNP Paribas Real Estate.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 285 cities in 28 countries. Hines oversees investment assets under management valued at approximately $90.3 billion¹. In addition, Hines provides third-party property-level services to 373 properties totaling 114.2 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,530 properties, totaling over 511 million square feet. The firm currently has more than 198 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.

Since entering Europe in 1991, Hines has grown its European platform to include offices in 17 cities as well as a presence in 60 cities in 14 countries. Hines oversees investment assets under management valued at approximately €24.5 billion and provides third-party property-level services totaling 4.3 million square meters in Europe, in Austria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.

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  1. Includes both the global Hines organization as well as RIA AUM as of 31 December 2021

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