Icade announces “Castel Office” building in Marseille now 100% leased

With this transaction, which occurred after entering into a 9-year lease with Deloitte on April 24 for 1,413 sq.m, the building is now entirely leased, several weeks before its scheduled completion in early July. Both leases will start on July 1, 2019.The signing of this lease has allowed Icade to pre-let all of the building’s office space, demonstrating its ability to create value through its development pipeline.As of December 31, 2018, the development pipeline totalled €2.5 billion in projected investments. Value creation is expected to represent €0.7 billion, of which 60% remains to be captured in the NAV.