A world leader in real estate information, analysis, news and marketplaces, the CoStar group will set up its French headquarters inQ4 2023 at 81 rue Taitbout / 40 rue Saint-Lazare (Paris 9e) in a building owned by Unofi. CoStar will be the sole tenant of this 1,915 m² R+5 asset, which will house all CoStar employees based in Paris: Business Immo, BureauxLocaux and Grecam, while allowing for future growth.
Formerly the head office of LSN (Afsca group), this Haussmann-style building was entirely restructured by the architectural firm Lobjoy-Bouvier-Boisseau, Demathieu Bard & Associés and Demathieu & Bard Construction. It has been let on a 3/6/9 lease at an average rent of €725/sq.m/year (excl. VAT, excl. taxes).
In this transaction, Azeo Real Estate advised CoStar in drawing up its specifications, property search and lease negotiation, while JLL acted as advisor to the owner, the Unofi Group. Fairway and Theops also advised Unofi. Gensler was selected to design the interior architecture and layout of the offices.
"France is an important expansion market for CoStar, and we are delighted that we will soon be able to consolidate all our Paris-based employees in a large office building in the 9th arrondissement," said Andrew Florance, CEO, President and Founder of CoStar.
"The restructuring of the rue Taitbout building is highly representative of the expertise of the Unofi Group's real estate teams, and fits perfectly with the strategy of the insurance company that owns it. We are delighted that the CoStar Group has chosen us for its French operations", comments Florence Dourdet-Franzoni, Deputy Managing Director of Unofi.