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offices Market News: Spanish Real Estate Intelligence

Malaga to Auction Post Office Building for €20 Million
16 September 2019 – The delegate of the Andalusia Government in Malaga, Patricia Navarro, stated that the state intends to sell a building once occupied by the post office in an auction that is expected to raise more than 20 million euros. An appraisal of the building set its value at €19 million, but elevated investor interest is expected to boost that price.  The building has nine floors, 17,000 square meters of surface area and is in the centre of the provincial capital. Original Story: Malaga Hoy – Miriam Núñez Photo: Javier Albiñana Adaptation/Translation: Richard D. K. Turner
 
All Iron Acquires Office Building in Valencia for €25 Million
16 September 2019 – The Basque real estate developer All Iron Re, which is controlled by the venture capital group All Iron Ventures, has acquired the headquarters of the PSOE, a socialist political party in Valencia. The building, which is located on Avenida del Oeste in Valencia, sold for approximately €25 million. The PSOE will remain as a tenant. Original Story: Idealista Photo: Idealista Adaptation/Translation: Richard D. K. Turner
 
Catella Acquires Office Building in Barcelona’s 22@ for €17 Million
10 September 2019 Catella Asset Managment has acquired a 5,800-m2 office building in Barcelona’s 22@ district for 17 million euros. The building has one below ground and  four above ground floors, along with a terrace. Catella acquired the asset for the German office fund Sarasin Sustainable Properties - European Cities. The building is currently occupied by Telefónica and a digital marketing company. It is located in the neighbourhood of La Sagrera, next to the 22@ district, in an where which will eventually house a new high-speed railway station. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner