JLL, advisor in a major transaction
JLL Luxembourg was the main advisor in the transaction between LBR and Twenty70. This transaction involves the acquisition of the Connex Avenue building, a key milestone in LBR's growth.
JLL Luxembourg is pleased to announce its participation as the main advisor in the real estate transaction between LBR (Luxembourg Business Registers) and Twenty70 (association of companies Giorgetti, La Compagnie Foncière Luxembourgeoise, and AG Real Estate). This transaction involves the acquisition of the Connex Avenue building, representing a key milestone in LBR's growth strateg.
Currently located in the House of Entrepreneurship building in Kirchberg, LBR has made the decision to acquire its own premises in line with its growth strategy. After a thorough study of the real estate market, the Connex Avenue building, located at 29-31 avenue de la Gare, was considered an ideal location.
Connex Avenue is a mixed-use building with 7 levels, offering commercial spaces on the ground floor and 2906 sqm of office space. During the development and construction phase, Giorgetti provided asset management for Twenty70. Designed by Félix Giorgetti, its completion from 2021 to 2023 represented a real challenge, including the demolition of existing buildings, the preservation and restoration of the historic facade, highly technical excavation, and construction in a restricted urban environment. Its strong architectural concept combines past and present with a facade that is both historic and modern, and a new building that incorporates the latest office standards.
The Connex Avenue building benefits from the Écogio label, a concept developed by Félix Giorgetti in 2006, guaranteeing the integration of low-electricity consumption technical equipment and other environmentally friendly construction methods, including circular economy practices.
Following the acquisition of Connex Avenue in October 2023, LBR plans to move in by mid-2024, once the renovation works are completed.
JLL Luxembourg played a major role in this transaction, advising and assisting the parties throughout the process. With its expertise in commercial real estate, JLL facilitated this agreement, enabling LBR to achieve its goal of acquiring a site suitable for its future growth and promoting the well-being of its employees and numerous visitors.
Mr. Yves Gonner from LBR commented: "The acquisition of the Connex Avenue building is a key milestone in our growth strategy. We chose this real estate project for its unique characteristics, combining historic charm with high standards of sustainable construction. With the support of JLL Luxembourg since 2018 on our real estate issues, we are confident in our ability to create an exceptional work environment that will foster the well-being of our employees and visitors while supporting our future development."
Emna Rekik, country lead of JLL Luxembourg, added: "We are proud to have played a major role in this real estate transaction between LBR and Twenty70. At JLL Luxembourg, we are aware of the current trends in the real estate market and the growing importance of ESG criteria (Environment, Social, Governance) in the decision-making process of companies. The Connex Avenue building, with its Ecogio label and commitment to the circular economy, reflects this sensitivity to environmental and social issues."
This transaction demonstrates JLL Luxembourg's ability to meet the specific needs of its clients and create strategic opportunities in the real estate market.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.