The office building is located on the avenue with the same name, in the Praça de Espanha/Sete Rios area. It has more than 4.300 sqm and 97 parking spots.
The asset will now be refurbished in order to adapt to the current corporate market demands.
CBRE Altamira AM acted in this deal on behalf of the seller. Nuno Nunes, Capital Markets director at CBRE, commented that «the Sete Rios and Praça de Espanha areas are paradigmatic examples of the popularity areas outside the CBD are having with the creation of new offices, restaurants and services within an integrated plan from the City Hall to significantly improve public spaces».
João Ribeiro, Real Estate Singular Coordinator at Altamira, remarked that «the building’s characteristics will boost a future reference real estate asset within the area, attracting public and private investment».