SITUATION
Tishman Speyer identified one of the last remaining sites in Paris as an ideal development location based on the area’s lack of supply of first class office space. The site is located in one of Europe’s leading business districts, La Defense. The property will benefit from its high visibility as it sits at the beginning of the access ring road to La Defense, Boulevard Circulaire, which is home to over 1,500 international and French companies.

DEVELOPMENT
In 1999, Tishman Speyer secured the rights to develop the site and executed this option to purchase the land in September of 2002. With building rights secured and risk mitigated, construction began on the 480,000 square foot office tower in January of 2003. The total development cost is estimated at €280,000,000.

Site constraints lead to the development of an innovative podium and elliptical floor plates. The building, designed by Kohn Pedersen Fox, will be over 465 feet high, with 32 floors for office tenants, creating a tower which is significantly taller than surrounding buildings. The four story podium houses public and retail services for the building. The façade at these levels will be completely transparent, increasing visibility and consequently, foot traffic. A striking 24 foot high entrance lobby will exemplify the property’s standards of elegance, space, and brightness for tenants and visitors alike.

VALUE CREATED
The addition of this first class building linking the old city of Paris and the modern landscape of La Defense, will set the mark for all future buildings and redevelopments. The project is scheduled for completion in the third quarter of 2005.