10 October 2018
Iberdrola Inmobiliaria has leased space in its Malaga Business Park, located within the Technological Park of Andalusia (PTA), to the American multinational Keysight.
Malaga is still on a roll. The capital of Malaga is no longer just on the map of the Spanish real estate market because of its residential sector, as evidenced by Iberdrola Inmobiliaria’s rental of 2,200 square meters of offices to the US multinational Keysight Technologies.
The Californian company will take over space in several buildings in the Malaga Business Park, located within the Technological Park of Andalucía (PTA). The operation is one of the largest this year in the province, by volume, and also completes the occupation of the office complex.
Keysight will now become a neighbour to other large corporations such as PwC, Riplife Gaming Technologies, Unitono and Eurocem, as noted by Iberdrola’s real estate arm. In its entirety, the Malaga Business Park has 18,000 square meters of constructed area.
This most recent transaction is a reflection of the growth of the office market in the city of Malaga, where the occupation of its prime areas exceeds 90%, as EjePrime reported last March. The Malagan office market saw significant demand in the central zone and the financial area of the capital in 2017. In these two areas, the stock of available offices was significantly reduced, which led to an increase in rents to 18 euros per square meter in the central street Larios, according to a report by Savills Aguirre Newman.
Original Story: EjePrime
Translation: Richard Turner