Groupama Immobilier announces that it has signed the sale of 79 Avenue des Champs Elysées in Paris to Norges Bank Investment Management. This fully renovated art deco building will house Nike's headquarters and its largest flagship store in Europe. Nike has indeed chosen France and more precisely this mythical address of Paris to welcome its third "House of innovation", after the opening of those of Shanghai and New York.
This transaction values the 79 Champs Elysees 613 million euros, a rare valuation including for the Champs Elysees, justified by the unique characteristics of the asset and the project:
Its strategic location in the heart of the Champs Elysees, at a very visible angle on the most valued segment of the most visited Avenue in Europe (100 million visitors a year), at the moment when a very ambitious transformation project of here the 2024 Games ("Re-enchanting the Champs Elysées"), of which Groupama Immobilier has been an active contributor for more than a year.
The very early identification of a taker, Nike, which allowed to design and realize a tailor-made program. It is a systematic method at Groupama Immobilier, which rethinks the coherence and sustainability of projects, and overall the way of building the City.
The creation of an exceptional sales area (4,300 m2) and thanks to the meeting of several shells and the transformation of office floors, and large volumes adapted to the concept of "House of Innovation" Nike.
The opportunity for Nike to gather teams from its headquarters above its flagship, a strong trend observed in many other companies, including Apple or Chanel on the Champs Elysees …