offices Market News: Spanish Real Estate Intelligence

Commodus Acquires Spotahome's HQ in Madrid from Persépolis

16 January 2020 - Eje Prime

Commodus has purchased an office building located on Calle Vizcaya, 12 in Madrid from the Socimi Persépolis Investments, in an operation that represents the German investment fund’s first foray into Spain.

The property, located in the Atocha-Méndez Álvaro area of the Spanish capital, has a total surface area of 4,410 m2, spread over 7 floors, 2 basements and 15 parking spaces. It is currently leased in its entirety to the Spanish start-up Spotahome.

Commodus specialises in commercial properties, especially offices, and has delegations in Munich, Berlin, Paris and Madrid. Its property portfolio is worth more than €1.5 billion.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

UBS Sells Pepsico's Southern Europe HQ to Aberdeen for €60M

14 January 2020 - Expansión

The Swiss bank UBS has sold an office building in the WTC Almeda Park in Cornellà de Llobregat (Barcelona) to the British fund manager Standard Life Aberdeen for €60 million.

The property has a surface area of 25,000 m2 and is partially leased to Pepsico, which recently set up its headquarters for Southern Europe there.

Original story: Expansión (by Marisa Anglés)

Translation/Summary: Carmel Drake

Nitsba Spain Acquires the Correos Building in Málaga for €23.5M

2 December 2019 - El Confidencial

Nitsba Spain, a company owned by the Israeli magnate Haim Tsuff, has purchased the former Correos headquarters in Málaga from the Junta de Andalucía for €23.5 million.

The property has been boarded up for a decade and, based on its current urban planning classification, its future use will be restricted to some kind of “communal residence” (for the elderly, students or children) or for other “social purposes”.

Nevertheless, a change of use could be approved to allow it to be converted into a hotel or offices, depending on the wishes of the purchaser.

Original story: El Confidencial 

Translation/Summary: Carmel Drake