The City Council of Madrid has closed today the purchase operation of the building that houses the municipal Computing service and the Area of Government of Environment and Mobility, located at number 33 of Albarracín street in Madrid, a Rex Spain ZDHL, SL Madrid City Council has exercised the right of first refusal in the purchase of the building, which has 17,547 sqm of gross leasable area (SBA) and is located in the most prime area of the Julián Camarillo district, a leading area in technology and innovation. Cushman & Wakefield has advised the seller in the operation.
The building, 100% occupied, has four floors above ground level of approximately 4,400 m 2 of SBA. Albarracín 33 has 219 underground parking spaces, to which an additional 30 outdoor spaces are added, up to 249. In addition, the 1,795 m 2 exterior can be used for landscaped areas.
Vanessa Gevers, Partner of Capital Markets of Cushman & Wakefield, says that “Albarracín 33 is located in the office district with the greatest potential in Madrid, in the process of transformation to become a reference area in terms of technology and innovation. Large landowners in the area, such as Meridia, GreenOak, Torre Rioja or Freo, among others, and firms such as Cushman & Wakefield, have launched the Madbit District, an initiative that we hope will be supported by the Madrid City Council.”
The Madrid City Council exercises the preemptive right to purchase the offices of Information Technology, Environment and Mobility
Partner, Head of Business Development • Barcelona