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79 Av. Des Champs élysées, ...

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

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

79 Av. Des Champs élysées, 75008 Paris, France

$673,000,000

$8,108/SF

Building Size

83,000 SF

Asset Type

Retail

Closing

Nov 29, 2020

AI

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.

Players

N
NIKEBuyer

Paris Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93