Azora has acquired a strategically located multi-tenant office building in Madrid, presenting opportunities for future repositioning and alternative uses.

Target Information

Azora has successfully acquired a multi-tenant office building situated at Calle Doctor Esquerdo 136 in Madrid's Retiro district. The property encompasses a total gross leasable area (GLA) of 9,094 m², spread across eight floors, and includes an underground parking facility with 23 spaces. Currently, the building is approximately 85% occupied, indicative of a stable tenant mix.

This asset not only serves as a commercial office space but also presents potential for alternative uses. Ongoing analyses for both residential and tertiary developments enhance its flexibility for future repositioning, making it a strategic acquisition in an evolving market.

Industry Overview in Spain

The real estate sector in Spain has been experiencing a significant transformation, particularly in urban centers like Madrid. The demand for quality office spaces has been robust due to the city's growth as a business hub, chara