CBRE Investment Management Lets Iconic Marché Saint Honoré Office Building in Paris

CBRE Investment Management (“CBRE IM”), on behalf of a Fund sponsored by the firm, has let the newly refurbished Marché Saint Honoré building in Paris, France, to J.P. Morgan SE.

J.P. Morgan SE has signed a deal to take 15,830 sqm of office space at the building across seven floors with a firm commitment of 11 years. They will occupy the building in 2027 following the completion of a comprehensive refurbishment of the building by CBRE IM.

Located in the heart of Paris, the Marché Saint Honoré building comprises 17,302 sqm, combining 15,830 sq m of office space and 1,472 sq m of retail space on the ground floor. The property holds historical significance, having been originally designed in 1996 by the renowned architect Ricardo Bofill and constructed in collaboration with French authorities.

CBRE IM’s refurbishment project, entirely repositions Marché Saint Honoré into a new high-quality, future-proofed asset featuring prime office and retail on the ground floor. Some of the retail space will be used as a convenience store to service both office employees as well as the local community. The building will accommodate modern ways of working, with extensive breakout areas and flexible workspaces, as well as amenities that encourage active commuting, such as bicycle parking and state-of-the-art changing rooms. The gross lettable area (GLA) has been increased by over 560 sq m, and more than 1000 sq m of external spaces (terraces, balconies, roof-tops) have been added. The building capacity has doubled, with two new stairwells and an entrance lobby, including a redesigned reception area, which has enhanced connectivity between public areas, improving accessibility for occupiers.

Throughout the refurbishment, CBRE IM has prioritised sustainability with a focus on the building reaching carbon neutral in operation, and meeting Décret Tertiaire targets to reduce energy consumption by 60% by 2050. Consequently, the building is targeting BREEAM Excellent and HQE Excellent certifications, as well as Well Core & Shell (Gold), Wiredscore (Platinum), and SmartScore (Silver).

Nathalie Dos Santos, Head of Office Asset Management for France at CBRE IM, said: “This represents one of the most notable deals in the Paris office market this year. The refurbishment of Marché Saint Honoré aligns closely with our commitment to sustainability to create value and future-proof assets while preserving an iconic cultural heritage asset. The building's central location and status as an iconic Parisian landmark have made it doubly attractive to occupiers seeking modern, sustainable office space in Paris, and this letting to an esteemed multinational business is a testament to that demand.

We are delighted to have partnered with JP Morgan and to welcome them to the building. This project highlights the benefits of close collaboration and mutual understanding, resulting in an outstanding result for both parties."

Richard Everett, Fund Manager at CBRE Investment Management, added, “This landmark leasing deal highlights our strategic vision for the Fund. JP Morgan's commitment to Marché Saint Honoré not only underscores the exceptional quality and appeal of this repositioned asset but also secures a robust, long-term income stream for our investors.”

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $149.1 billion in assets under management* as of March 31, 2025, operating in 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.