CBRE France is representing the sale of 6 rue de la Paix, Paris. The property, which is approximately 8,230-square-feet, comprises two fully refurbished jewelry boutiques: Tiffany & Co.’s Paris flagship store along with Kornmesser, a private Austrian luxury jeweller and porcelain retailer.
Both jewellers have recently committed to new long term leases. The building was put on the market for about $40 million. Rue de la Paix is a very prestigious address in Île-de-France.
Larry Young, of CBRE Capital Markets Paris, said, ”Prime retail properties of this quality and with this strength of tenant are rare and we are very excited to bring to this building to the market. Rue de la Paix is amongst the world’s most prestigious retail destinations and we will be seeking prices in excess of €30 million for the SPV, with initial offers being sought in late March.”