Paris, November 25th, 2020 – Ardian, a world leading private investment house, and French multinational pharma company Sanofi, have agreed on a lease for a post-Haussmann style office complex in Paris. Ardian acquired the office building, located at 46-48 Avenue de la Grande Armée, near Porte Maillot and Place de l’Étoile, in July 2018.

The building, which will cover almost 9,200sqm, comprises two interconnected six- and eight-story buildings. It is a Paris landmark boasting more than a century of history. The project, which is entrusted to Franklin Azzi Architecture, aims to restore the building’s Parisian industrial-era roots from the turn of the 20th century through extensive renovation and modernization – tastefully blending art deco and industrial design.

The project was carefully designed to ensure that it retains authenticity while offering enhanced amenities to create a unique work environment. The building, including the top two terrace floors and distinctive rooftop with emblematic Parisian views, is currently under construction and will be completed in 2022.

Sanofi, with this building as its future world headquarters, intends to offer all its employees a state-of-the-art working environment, to enable greater collaboration between teams, through flexible working facilities.

This choice confirms Sanofi’s commitment to meeting its employees’ changing needs and expectations.

Stéphanie Bensimon, Head of Ardian Real Estate, said: “The lease of the whole building by Sanofi demonstrates Ardian Real Estate’s ability to reinvent office complexes, while preserving their rich heritage.

“While there has been some speculation about the future of offices, this lease is yet another example that high-quality office space remains attractive to large companies. Businesses need to continue to ensure they are offering employees the most suitable conditions to work for the future.”

Jérôme Arnaud, Real Estate Director at Sanofi Group added: “We are delighted to make full use of all the qualities of this completely redesigned and restructured building to offer innovative work spaces that will put a strong emphasis on the fluidity of exchanges and interactions. Our ambition is to make it an unparalleled place to live, work and collaborate.”

Ardian signed the forward-funded sale of the vacant building to institutional investor BNP Paribas Cardif, in May 2019. Ardian had retained the responsibility to market lease agreements related to the building.

This lease follows the recent announcement of the signing of long-term leases on the RIO project, also developed by Ardian Real Estate, in the 8th arrondissement.