Nike sports equipment supplier will install its French and European headquarters on the Champs-Élysées. The brand has not hesitated to pay 613 million euros for this building, for about 80,000 euros per square meter.
Monopoly continues on the Champs-Elysees. One of the buildings of the famous avenue has just sold at a record price, more than 600 million euros.
The seller, the mutual insurance group Groupama, has just completed the sale of this building located at 79 Avenue des Champs-Elysees to a Norwegian sovereign fund, which paid 613 million euros. We are close to 80,000 euros per square meter for this seven-story Art Deco building! The record of the Apple Store Champs-Elysees, sold 600 million euros, is beaten. You must know that the 79 Champs-Elysees is right next to the Fouquets which was vandalized a few months ago by the Yellow Vests. It did not bring down prices. It is the Nike sports equipment manufacturer that will install its French and European headquarters there and house the largest Nike store in Europe.
Proof that the attractiveness of the Champs-Élysées has not diminished?
Les Champs is 100 million visitors a year (including a third of foreigners) and 1.5 billion euros in turnover for businesses. One could have feared that the scenes of riots that followed one another last year and which went around the world would have tarnished its reputation. Admittedly, businesses have suffered, sometimes with a turnover drop of 30% and considerable material damage. But the trust of the big brands remains. Nike has just signed a 12-year lease. Galeries Lafayette inaugurated their flagship store in the spring. 11 of the 69 Champs buildings have been renovated since one year. The "Champs-Élysées" are a global brand that the bad advertising of yellow vests has not ruined far from it.