Azora has acquired, with the intermediation of CBRE, an office building located at Calle Doctor Esquerdo 136 in the Retiro district, an area in Madrid’s city centre that has undergone a major transformation with new office and residential projects.
The acquired property is a multi-tenant office building with a total gross lettable area (GLA) of 9,094 square metres, spread over 8 floors and an underground car park with 23 parking spaces. It is currently 85% occupied.
Located just a few minutes' drive from Atocha Station, it is also well-connected by public transportation, with a metro station right in front of the building and direct access from the M-30 highway. Additionally, it offers access to a wide range of services including restaurants, supermarkets, and pharmacies.
The asset offers potential alternative uses, with both residential and tertiary uses currently under analysis, allowing for greater flexibility when considering future repositioning opportunities.
Source: azora.com on the 28th of June, 2024
https://www.azora.com/en/blog/azora-buys-an-office-building-in-the-centre-of-madrid/