21 January 2016 – Inmodiario
The Zurich Group has purchased an office building from Metroinvest on Calle Albarracín, 33 in Madrid, in the Julián Camarillo business district. The property, which was built in 2005, has a total surface area of 23,100 m2 and is occupied by the Town Hall of Madrid, from where it operates its municipal IT, police and mobility departments.
Cushman & Wakefield, the global real estate service leader, has advised the Spanish group on the sale of the property. The building has three floors (above ground), which are fully flexible and dividable, plus a ground floor and extensive underground parking with 279 spaces.
The Julián Camarillo business district, which was originally an industrial area, is well connected by metro and bus, and is close to several very busy thoroughfares and so has become one of the most sought after business districts in Madrid. For this reason, companies such as BBVA, Indra and Sant Lucía have all decided to relocate there.
Following this sale, Cushman & Wakefield, which have led the investment market in the last year, have now advised transactions amounting to more than €3,300 million in the last 2 years. (…).
Original story: Inmodiario
Translation: Carmel Drake