Luxury commercial building in Marseille

Acquisition of a lurury 17.000-square-foot commercial building located at 24 rue Grignan in Marseille, in the street famous for hosting luxury names.

The asset was funded through the property investment company “LE 24”, which would own the asset.

The property investment company LE 24 received a building permit in order to make a commercial use of the premises.

The property investment company LE 24 then rented the building to the international brand FLAMANT HOME INTERIORS in 2008.

In the beginning of 2010, FLAMANT and the property investment company LE 24 agreed on an early termination of the commercial lease. In August 2010, LE 24 negociated and signed a new commercial lease with LOUIS VUITTON Groupe LVMH.