Covivio takes over full ownership of the CB21 tower in a dynamic context for the Paris-La Défense market

CB21, the most Parisian tower of La Défense

CB21, an emblematic tower in Paris-La Défense, is ideally located at the foot of metro line 1 (Esplanade de la Défense station) and has exceptional visibility on the Paris-La Défense axis. Acquired by Covivio in 2007, CB21 spans 68,000 m² and 41 floors.

CB21 offers diverse of common areas, designed by Saguez & Partners, and a range of services inspired by the highest hotel standards, including a service lobby, a lounge area with a hotel bar atmosphere, a wide choice of restaurants, a business centre with an auditorium, a fitness area and a bicycle park. CB21 also offers its occupiers more than 1,500 m² of green space, with two landscaped gardens.

In terms of environmental performance, the tower has been awarded with several certifications: Active Score Gold, HQE Exploitation – Exceptional for Sustainable Management and Excellent for Sustainable Building, and WiredScore. CB21 was also awarded 1 ^st place in the CUBE 2022 competition, in recognition of the significant reduction in its energy consumption and carbon footprint.

Paris-La Défense: a market in full revival

The rental market here is currently particularly dynamic, driven by a high-quality offer and renewed interest from companies with varied profiles looking for an attractive location/quality/price equation.

In 2024, the La Défense sector confirmed its status as a leading business district, recording take-up of more than 211,000 m², up 60% on 2023 and 14% on the ten-year average. External transactions accounted for 115,000 m² in 2024, compared with just 17,000 m² from departures, reflecting renewed interest from new business players and the satisfaction of existing companies.

A value-creating investment

On 16 June, Covivio acquired the 25% minority stake in the CB21 tower, on terms reflecting an overall target yield of 10%. This investment enables Covivio to reconstitute full ownership of the asset at a key moment in the life of the building following the departure of Suez, the tower’s historic tenant.

As part of the mid-2025 departure of Suez from the 38,000 m² it currently occupies, Covivio intends to continue the qualitative and service-oriented repositioning work initiated in 2020. CB21 will offer a new lobby/lounge area and new meeting rooms with concierge services, as well as a rooftop and exclusive services (brasserie, executive club, etc.).

In line with its strategy of deploying tailor-made solutions for its customers, Covivio is implementing a differentiated marketing approach depending on the floors: from “as is” marketing to “premium” high-battery solutions.
This strategy is paying off, as Covivio has already signed rental agreements for 6,000 m², and is in advanced discussions for a further 4,000 m², representing 25% of the space recently vacated.