Covivio and Crédit Agricole Assurances renew and expand their partnership with Dassault Systèmes in the Vélizy-Villacoublay business district
Agreement to extend the Dassault Systèmes Campus by 27,600 m² and
renew the current leases until the end of 2032
Covivio and Crédit Agricole Assurances announce the expansion of the Dassault Systèmes Campus, located in the Inovel Parc business district in Vélizy-Villacoublay, with the construction of a new 27,600 m² building to accompany the growth of the world's leading publisher of 3D software. At the same time, the three partners signed an agreement extending the current leases for a new 10-year term set to begin with the delivery of the new property, scheduled for late 2022.
A partnership between Covivio, Crédit Agricole Assurances and Dassault Systèmes dating back to 2008
Covivio delivered its 56,560 m² turnkey Campus in Vélizy-Villacoublay to Dassault Systèmes in 2008. The partnership continued in 2016 with the completion of an initial 12,800 m² expansion and the signature of a new 10-year lease for the entire site. In the meantime, Crédit Agricole Assurances, a long-term partner of Covivio's, joined the project when it acquired 50% of the Campus.
Today, a new stage is reached with the signing of an expansion project with the construction of a new 27,600 m² building and the signature of new leases. The leases will take effect in late 2022 upon delivery of the new expansion.
In this transaction, Dassault Systèmes is receiving guidance from Colliers International France as part of a comprehensive consulting remit (transaction and assistance with project management), which culminated in the pre-letting of the turnkey project and support up until the project's delivery. Colliers International France has served as a consultant for Dassault Systèmes since the first stage of the Campus in 2008.
In keeping with Covivio's environmental ambitions and the performance level of the existing Campus, the property is aiming for the HQE Sustainable Building 2016, E2C1 and BREEAM Very Good certifications.
A new transaction that testifies to the attractiveness of the Vélizy-Meudon business hub
This new expansion also attests to the attractiveness of the hub, where Covivio has been active since 2003 with an 18-hectare land hold. Vélizy-Meudon, which is now the 2nd largest tertiary hub in Île-de-France, is home to nearly 50,000 workers and 1,000 businesses with international reach.
For over a decade, Covivio has been supporting the growth of Dassault Systèmes at the Vélizy-Meudon tertiary hub, as well as that of other major corporates, such as Thalès and Eiffage, for which Covivio has worked alongside Crédit Agricole Assurances to develop cutting-edge campuses within this business district. Covivio and Crédit Agricole Assurances retain major growth potential on this site, with a land reserve of nearly 30,000 m² available for the development of new projects.
Key information about the expansion project
Surface area: 27,600 m² to be delivered in late 2022, supplementing the existing 69,400 m²