CBRE Global Investors, on behalf of its clients, has acquired 1 Plaza Colon Madrid from the owner occupier, Barclays Bank.
The transaction volume for the 3,910 m2 building was not revealed. Constructed in 1971, the property comprises a semi-basement, ground and three upper floors.
'This represents an exciting opportunity to use our local expertise to enhance the building to provide attractive mixed-use accommodation appropriate for modern business in this location,' commented José Antonio Martín-Borregón, managing director Spain & Portugal, CBRE Global Investors. 'We are confident due to the highly visible position that the building will be of strong appeal to occupiers with a globally recognisable brand.'
The asset is situated at the intersection of Paseo de la Castellana and Paseo de Recoletos in a prominent location.
'This represents our third acquisition in Spain over the past 12 months bringing the total invested to over €200 mln. We have ambitious plans for this asset and significant dry powder for retail, office and logistics on behalf of our clients during 2017 across EMEA,' concluded John Mulqueen, head of transactions EMEA, CBRE Global Investors.
