LaSalle Investment Management has completed the disposal of an office building in the Vaise district of Lyon on behalf of the Saudi Economic and Development Company (SEDCO). The buyers are two SCPI vehicles managed by BNP Paribas Real Estate Investment Management.

The investment volume comes to nearly EUR 45 mln.

Completed in 2003, the scheme comprises 14,000 m2 of office accommodation, which is entirely leased to Cégid on a nine-year rental agreement.

LaSalle IM bought the property in 2005 and renegotiated the lease in 2010 with a view to selling the asset.

Cushman & Wakefield and Jones Lang LaSalle advised the seller.