BNP Paribas Real Estate: A complete real estate service for foreign companies
BNP Paribas Real Estate lends its support to the real estate projects of end-users, investors and developers. Christophe Prioux, Associate Director of BNP Paribas Real Estate Transaction, presented the services his firm offers to foreign companies under a partnership with Paris Region Entreprises.
How does your partnership with Paris Region Entreprises work?
I serve as a filter and internal coordinator. When Paris Region Entreprises notifies us of a foreign company’s project to establish a presence in France, my job is to precisely identify their needs. This may be office space in Paris, a small industrial building in the Val d’Oise (just north of Paris) or a logistics warehouse in the Seine et Marne (just east of Paris). The key is to work with corporate executives to properly define the determining factors for their final choice: price, geographical area, public transport, etc. Once the imperatives are identified, a specialized consultant takes charge of the customer’s search.
What are the main characteristics of the commercial real estate market in the Paris Region?
Commercial real estate in the Paris Region stands out with both quantity and quality. Unless the foreign company is really fixated on locating in one specific neighborhood in Paris, they should not have too much trouble finding an excellent solution. This can sometimes take a while, but we always end up finding it. There is a lot of real estate on the market, for every product category. For example, in the logistics sector, it is quite possible to obtain a turnkey site. This type of product is in addition to off-the-shelf properties, allowing, if necessary, to best respond to the request (commercial space, warehouses).
First, I would say that we are certainly the most complete service. We can handle any size of project, from the smallest smallest (30m2 or 300 ft2) to very large ones (several thousand m2 or several tens of thousands of ft2). What’s more, we work with all types of premises, including hotels. Next, I would emphasize the richness of our portfolio. I sometimes tell customers that we are aware of 105% of the products on the market. Based on the needs that our customers express, we sometimes can offer products that are not even on the market yet. A final strength that I would like to mention is our integration in a group. This simplifies the bank-real estate relationship and helps facilitate transactions. All these elements allow us to offer a service that makes things easier for the foreign company.