JLL’s Hughes to step down
Alastair Hughes, managing director of JLL’s UK business and chief executive of Asia Pacific, will leave the firm on 1 July. He will be replaced by Anthony Couse, managing director of Shanghai and east China. Hughes joined JLL in 1988.
Pramerica hires CBRE GI man
Pramerica Real Estate Investors has appointed Eduard Wehry as a managing director and head of business development for Asia Pacific, based in Singapore and Hong Kong. Wehry, who will report to global head of business development Mark Chamieh, was previously head of Asia at CBRE Global Investors.
Standard Life sells Tokyo office
The Standard Life Investments Global Real Estate Fund has sold the Kandabashi PR-EX building in Tokyo to a private buyer for around £10m. Located in the Chiyoda district, the 13,342 sq ft office block has seven floors. Sumitomo Mitsui Trust Bank acted for Standard Life.
Plans for new Manhattan office
Savanna and Hong Kong-based Atom Assets have bought a nine-storey office on West 56th Street in New York to redevelop as a 26-storey tower. Plans for the 90,000 sq ft scheme include offices of between 2,000 and 5,000 sq ft that will command rents of around $100 (£69) per sq ft. CBRE will act as leasing agent; JLL advised Savanna and Atom Assets.
Sephora chooses new Paris HQ
Cosmetics retailer Sephora has agreed a deal with Pramerica Real Estate Investors for a global headquarters at 41 Rue Ybry in Paris. The LVMH-owned company has agreed a 10.5-year lease at the 160,000 sq ft property. Wargny Katz and De Pardieu Brocas Maffei advised Pramerica; Strategies and Corp, Ixans and Voxoa acted for Sephora.
