Global leader in real estate information, analytics, news and online marketplaces, CoStar Group will set up its French headquarters at the corner of 81, rue Taitbout / 40, rue Saint-Lazare, in the 9th arrondissement of Paris 9th within a building owned by Unofi. CoStar will be the sole tenant in this 1,915 sqm. building, which will house all CoStar’s Paris-based employees including those from Business Immo, BureauxLocaux and Grecam whilst also allowing for future growth.
Formerly the headquarters of LSN (AFSCA group), this Haussmann-style building was entirely restructured by the architectural firm Lobjoy-Bouvier-Boisseau, by Demathieu Bard & Associés and Demathieu & Bard Construction. It has been rented under a 3/6/9 lease on the basis of an average rent of €725/sqm/year (excl. VAT, excl. tax).
In this transaction, Azeo Real Estate advised CoStar in the preparation of its specifications, the property search and the negotiation of the lease, while JLL advised the owner, the Unofi Group. The firm Fairway and Theops also assisted Unofi.
"France is an important expansion market for CoStar and we are delighted to be able to consolidate all our Paris-based employees into one great office building in the 9th arrondissement” said CoStar’s CEO, President and Founder Andrew Florance.
"The restructuring of the rue Taitbout building is very representative of the expertise of the Unofi Group's real estate teams and corresponds perfectly with the strategy of the insurance company that owns it. We are delighted that CoStar Group has chosen us for its French operations", comments Florence Dourdet, associate managing director,Unofi.
