IBM & Vodafone Headquarters Sales Win the Top Q1 Transactions

6/06/2014 – Expansion

According to advisor Savills, in the first quarter of 2014 office market observed transactions done for the total of €350 million. The amount represents almost one third of the entire volume registered during last year. “If the operations in process added, the total may rise to €700 million”, assures the firm.

Year-to-date, the most important transaction was the sale of Vodafone´s headquarters at 115 America Avenue in Madrid. London & Regional paid €117 million to Sabadell for the 50.600 square meter area building.

Another noteworthy transaction was performed by Morgan Stanley that sold the 46.400 square meter, old headquarters of IBM to the Modelo group for €130 million.

 

Original article: Expansión (by R. R.)

Translation: AURA REE

145