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Esteve Leases 12,000 m2 Of Office Space In Torre Marina From Iberdrola

6 September 2017 – Expansión

Record-breaking operation in the office market in Barcelona.

The pharmaceutical and chemical group Esteve has reached an agreement with the real estate division of Iberdola to transfer its corporate headquarters to Torre Marina, a property owned by the energy company.

Esteve has leased 12,000 m2 of space (out of a total surface area spanning more than 19,000 m2) spread over 10 of the 13 floors that make up the property. Following the agreement, the building will be renamed Torre Esteve, according to an announcement by Iberdrola.

The change of office will happen in 2018, and will bring together the c. 400 employees and collaborators that the pharmaceutical company currently has spread over several locations in the Catalan city.

In addition to the 12,000 m2 of office space, Torre Marina is home to a retail and services arcade, known as the MarinAtrium, and 1,000 parking spaces.

By volume, this is the largest corporate move in Barcelona in the last 10 years. During the first half of the year, 220 new office rental contracts were signed in the Catalan capital, of which only 11% were operations involving more than 2,000 m2, according to the consultancy firm Cushman & Wakefield. In terms of rents, the average price of office rentals in the prime area of Barcelona amounts to €22.50/m2/month, up by 7% compared to a year ago.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake