Lexington plans to invest €5.5M in offices

Lexington plans to invest €5.5M in offices

Lexington closed 2020 with an occupancy of 78% and a drop in turnover of 4.3%, according to EjePrime. Despite the uncertainty caused by the pandemic, the company is committed to expanding its pipeline by 2021 and having three extensions that will add 6,840 sqm and an investment of 5.5 million euros.

The three projects that are in the company's portfolio are the expansion of the Príncipe de Vergara centre in Madrid, with a third floor of 740 sqm, the opening of a 1,800 sqm centre on Jorge Juan street (Madrid), and a new space in the centre of Barcelona of 4,300 sqm.

In Barcelona, the company tracked assets in the 22@ district, but finally decided to position its space in the centre of the city. The company is still closing the deal, waiting for the market to stabilize.

In the long term, the coworking company plans to expand to other cities in Spain such as Valencia, Seville or Malaga according to David Vega, CEO of Lexington.

The Madrid company has three more centres in Madrid, located at Castellana 141, Castellana 79 and Calle Caléndula 93, in La Moraleja. In addition, it has a flexible work centre in Barcelona, located on Gran Via Carles III, near Avenida Diagonal. The company founded in 1981 has so far 14,000 sqm of surface area and collaborates with Locartis, a network of independent operators that offers space in fifteen countries in Europe, North Africa and Southeast Asia.

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