Nike And Norges Bank Acquire Retail Property On Paris' Champs-Élysées For $673M

The giant sportswear brand Nike and Norges Bank have purchased the most expensive building on Paris' renowned Avenue des Champs-Élysées for a staggering $673,000,000. This prime retail asset spans 83,000 square feet and is located in the bustling market of Paris. The new European headquarters for Nike will be situated in this prominent location.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $673,000,000
• Square Footage: 83,000
• Price per Square Foot: $8,108
• Address: 79 Avenue des Champs-Élysées, Paris
• Buyer: Nike & Norges Bank

This high-profile acquisition by Nike and Norges Bank solidifies Nike's position in the European market and highlights the significance of the Avenue des Champs-Élysées as a premier retail destination. The deal underscores the strategic growth plans and commitment of Nike to establish a strong presence in Paris.