PARIS — EPI Group, the owner of Bonpoint and J.M. Weston, has sold the site of the future Apple store on the Avenue des Champs-Elysées in Paris to German pension fund Bayerische Versorgungskammer, or BVK.
The sale comes as the world-famous avenue undergoes a broad overhaul, including the revamp of a sprawling Thirties building for Galeries Lafayette by Danish star architects Bjarke Ingels Group, also employed for Google’s futuristic headquarters in Silicon Valley.
“The intense work to develop the building that has been carried out since 2009 offers a real showcase for the Apple flagship on the Champs Elysées,” said Christopher Descours, president of EPI.
The building, located at number 114 on the bustling street that is popular with tourists, stretches over nearly 60,000 square feet. It will house the Apple store, scheduled to open at the end of the year, as well as serve as the tech giant’s French headquarters.
Financial details of the real estate operation were not disclosed.