20 April 2017 – CBRE Noticias
The reactivation of the economy, experienced over the last few months, has led to an increase in demand for high-quality assets, with certain companies now looking for new locations in order to improve the profile of their headquarters, as well as better facilities that are adapted to suit their current requirements.
Proof of this includes the latest move by the company Oion Servicios Jurídicos y Financieros, which specialises in providing services to companies in the administrative management and statistical computer analysis fields. Oion has decided to relocate its offices to the Cesáreo Alierta Building, 9-11, in Zaragoza (…), where it will occupy a total surface area of 3,040m2, spread over the ground and first floors of the property, which has one of the largest floor surface areas in the Aragonese capital. (…).
Other examples of office moves include Aerolínea Aragonesa Air Horizont’s transfer to the historical El Águila building on Calle Alfonso, number 3, in an operation advised by CBRE, where it will occupy the 5th and 6th floors. The property is situated in one of the most exclusive and representatives locations of Zaragoza and is equipped with some extraordinary facilities. Meanwhile, Grupo BC is going to relocate to the Aida Office Building, whose current occupancy rate exceeds 80%, thanks in part, to the refurbishment of its space and to the provision of more services within its facilities.
“At CBRE, we are observing a better positioning of offices that have recently undergone renovations or refurbishment work, to adapt them to the needs of companies. They are the ones that end up enjoying higher occupancy rates and higher rents. Proof of this is that demand for office space in the New Business Areas now accounts for 30% (of total demand) compared with 10% in 2014, versus the decline in the Centre, which has gone from accounting for 75% to 45%. These recent operations have contributed to reducing the availability rate below 20%, a figure not seen since 2008”, says Alicia Noguera, Head of Offices at CBRE Zaragoza.
The improvement in the market during the first quarter is clear, with around 4,000 m2 of space already leased out, compared with a total of 8,000 m2 during the whole of 2016. This takes the projections for the full year 2017 to more than 10,000 m2, which would represent a historical figure, although still well below other similar domestic markets, by size of stock, such as Valencia. (…).
Original story: CBRE Noticias
Translation: Carmel Drake