IERET buys office building in France

A subsidiary of the Pacific Investments Group has sold the Delta office building in Val d’Oise, France to Insight European Real Estate Trust (IERET). The four-storey building conprises18,000 m[sup]2[/sup] and includes a company restaurant and 512 parking spaces. The sale price was not disclosed. The rent is around EUR 2,5 mln per year, excluding tax and charges. The entire property is let to Valeo and Secap, the French-based Pitney Bowes group.

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