Iberdrola Puts Torre Auditori in Barcelona Up for Sale

19 March 2019 – Idealista

Iberdrola has put Torre Auditori, which forms part of the BCN Fira District business park in Barcelona, up for sale. The property comprises 21 storeys and spans a surface area of 22,899 m2, generating annual rental income of more than €4.3 million. The current occupancy rate of the property is 98% and its tenants include Cepsa, Ferrovial, Marmedesa, Asus and Iberdrola itself.

The building forms part of the business park that the company is constructing on Paseo de la Zona Franca, which currently comprises Torre Auditori and Torre Marina (which is leased to the pharmaceutical firm Esteve). Iberdrola is building two more properties, which will be handed over during the first quarter of 2021.

Original story: Idealista 

Translation: Carmel Drake

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

Iberdrola Markets A Large New Office Complex In Barcelona

24 January 2017 – El Economista

The real estate consultancy firms Aguirre Newman and CBRE will be responsible for marketing the largest complex of new offices currently under construction in Barcelona. Specifically, Torre Auditori and Torre Marina, two skyscrapers, owned by Iberdrola Inmobiliaria, which form part of the BCN Fira District complex. The energy firm plans to build another two towers on the site, taking the total surface area to more than 91,100 m2.

Both agents will work under a co-exclusivity agreement to market the most important offices in Barcelona, where 35,550 m2 of new office space is expected to come onto the market this year. Most of this space will become available in Torre Marina, which is in the final phase of construction and which is expected to be completed in April.

This skyscraper, with a gross leasable area (GLA) of 19,663m2, will be the smallest of the four, but will differentiate itself from the rest because it will have a retail and restaurant space on the lower floors, known as the Marina Atrium.

The property stands next to Torre Auditori, which has a GLA of 22,899 m2, spread over 21 floors, and which was the first property to come onto the market. This skyscraper already has several tenants including Asus, Proclinic, Dentsply, Marmedsa and Iberdolra itself – which has moved its central headquarters in Cataluña to this building – it offers open spaces of up to 1,200 m2 per floor, divisible into four modules.

“Barcelona has always been a strategic place for our activity and we are now demonstrating it by putting more than 42,000 m2 of efficient office space on the market”, said Miguel Ángel García Tamargo, Director of Real Estate at Iberdrola Inmobiliaria.

In this sense, the firm highlights that both towers have an “A” energy rating and a BREEAM certificate, and stand out thanks to their functionality, sustainability and energy saving, “characteristics, which make this a unique and sustainable business centre in Barcelona”.

BCN Fira District

In total, Iberdrola plans to construct four towers, three of which will have 21 floors; and each one will have an above ground gross leasable area of 22,899 m2. Moreover, the plans include more than 1,000 underground parking spaces, which have already been built.

Located in the new business district of Barcelona, the design of Iberdrola’s business complex is being led by the Barcelona-based architecture studio Tusquets, Díaz y Asociados, which previously collaborated with the company to complete two other buildings in the Catalan capital, namely, the Torres Diagonal Litoral and the Hilton Diagonal Mar Hotel.

The four towers are just one group of properties that comprise the BCN Fira District complex, which also includes the Fira de Barcelona and the office building that the real estate subsidiary of the insurance company Axa is going to construct for La Generalitat.

93,000 m2

Iberdrola Inmobiliaria already has a timeline for the construction of the other two towers that form part of these plans, which will be launched once the two properties that have just come onto the market have been leased. If everything goes according to plan, the new building work will begin in 2018. During that same year, 93,000 m2 of new office space is expected to come onto the market in Barcelona, of which 23% has already been leased.

Original story: El Economista (by Alba Brualla)

Translation: Carmel Drake