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Atos to Keep Renting From the Land of Bavaria Until 2025

2/09/2014 – Expansion

Atos, a French firm focused on delivery of IT services through Consulting and Systems Integration, has sealed a new rental deal in order to stay in its present headquarters of 7.843 square meters situated in Madrid until 2025.

The building is the number 25 of the Albarracin street. It was raised in 1993 and now it belongs to German property investment fund Real I.S. Group.

The landlord is a branch of a public bank of the Land of Bavaria, managing the property through an investment vehicle called BGV III España 1 SLU.

The operation closes the summertime in the office market of Madrid. Numerous transactions like this one have been reviving the sector since the beginning of the year.

As per calculations by CBRE, year-to-date the total area involved in the rental contract signing spread over 170.000 square meters in Madrid solely. Most remarkable was the rent of a 23.000 sq m office building at 81 Avenida de America avenue by Axa. Owned by real estate company Torre Rioja, the five-storey property includes an underground parking with 380 spaces and a ground level one of more than 100 places. This operation marks a five-year record in terms of volume.

According to JLL, office space availability rate in Madrid presently stands at 12.17 per cent, by 1 per cent less than it was in the first quarter of 2013.

When it comes to the city of Barcelona, the most noteworthy deal of this year involved move-out of Agbar to new premises on the Paseo de la Zona Franca street after having sold its iconic Tower.

  Original article: Expansión (by Rocío Ruiz) Translation: AURA REE