Züblin Immobilière has sold the Danice office building in Lyon to the SPPICAV Delta Immo fund managed by Viveris REIM.

Züblin Immobilière has sold the Danice office building in Lyon to the SPPICAV Delta Immo fund managed by Viveris REIM.

The transaction price of €58.4 mln is understood to reflect a record low yield for Lyon of 5.7%, according to well-informed market souces.

PropertyEU reported in May that Züblin had put the building for sale through Jones Lang LaSalle.

Located in the La Part-Dieu business district of Lyon, the complex consists of three buildings and provides over 16,000 m2 of space over seven storeys. It is multi let to seven tenants.

Wargny Katz advised the vendor on legal matters; notary firm Bresjanac acted for the buyer.