The Iberian Property Investment Awards, organised by Iberian Property, are gearing up for the awards ceremony of the second edition of these awards, which will take place on the 6th of May in Madrid. These awards recognise and reward the most outstanding players and projects in the real estate investment sector in Spain and Portugal throughout 2024. One of the awaited categories is "Commercial Leasing of the Year", which recognises the Strategy – target clients, short and long-term goals, action plan, creativity; the Success – timing and price achieved for the owner of the asset; Marketing Techniques; and New Lease Clauses.
The Finalist projects and players competing in this category are:
BNP PARIBAS REAL ESTATE – ARROYO BUILDING
LOCATION: Madrid, Spain.
SECTOR: Offices
GLA: 22,731 sqm
OWNER: Monthisa
TENANT: Moeve
In line with its transformation strategy and ambition to lead the energy transition, Moeve is moving into a new corporate headquarters in Madrid’s Arroyo del Fresno district. This move marks a key milestone in Moeve’s mission to evolve as a forward-thinking, sustainable energy company—placing collaboration, innovation, and employee well-being at its core.
BNP Paribas Real Estate played a pivotal role in this transition, supporting Moeve in identifying a property that reflects its renewed corporate identity and strategic vision. The result: a cutting-edge, purpose-built facility developed by Monthisa and designed by Allende Arquitectos.
The Arroyo Building totals over 22,000 sqm with 7,000 sqm of outdoor spaces—terraces, gardens, and patios—that enhance employee comfort and foster community. It brings Moeve’s 2,000 employees under one roof for the first time, in a horizontal design that encourages connectivity and collaboration.
Sustainability and wellness are embedded in the DNA of the project. The building is on track to achieve LEED Platinum and WELL Gold certifications, affirming its alignment with Moeve’s ESG goals. Located steps away from metro, commuter rail, and cycling infrastructure, the building encourages sustainable mobility. With 673 parking spaces, ample green space, and premium on-site services—including an auditorium and canteen—it is purposefully designed for both functionality and future growth.
BNP Paribas Real Estate provided end-to-end advisory—from site selection and technical consulting to negotiation—ensuring the building would not only meet Moeve’s operational needs but also reflect its ambition to create a better, more sustainable world.
This project represents more than just a move. It is Moeve’s bold statement toward becoming a European reference in energy innovation, with a workspace that mirrors its commitment to people, planet, and purpose.
MERLIN PROPERTIES – PLLN
LOCATION: Greater Lisbon, Portugal.
SECTOR: Logistics
GLA: 122,500 sqm
OWNER: MERLIN Properties
TENANT: Worten
Merlin Properties has secured one of the most significant logistics lease agreements in the history of the Portuguese real estate market. In a major milestone for the sector, the company signed a Promissory Lease Agreement with leading electronics retailer Worten for a total of 122,500 sqm at its Lisboa Logistics Park (PLLN) in Castanheira do Ribatejo, located just 20 minutes from Lisbon with direct access to the A-1, A-9 and A-10 motorways.
This turn-key operation stands out not only for its sheer size but also for its technical and strategic complexity. The deal encompasses two logistics spaces: approximately 21,000 sqm within a newly constructed multi-tenant facility, and a to-be-built standalone warehouse of c.101,600 sqm. Once completed, this will be the largest logistics centre Worten operates in Portugal, consolidating its supply chain footprint under one roof.
In parallel, Merlin also signed a lease with DSV for a further 16,000 sqm at the park, reflecting its strong leasing momentum throughout 2024. With a total logistics portfolio of 95 assets and 2.8 million sqm under management across Spain and Portugal, Merlin has reached a record-high occupancy rate of 99.4%.
The company’s strategic focus remains on delivering bespoke, high-quality logistics assets. Other recent turn-key projects include an 18,000 sqm facility for Total in Cabanillas Park II and a 2,477 sqm unit for XPO in Seville ZAL. Of the 511,000 sqm of logistics space currently under development, over 155,000 sqm is already pre-leased and an additional 77,000 sqm has signed letters of intent.
This landmark operation not only reinforces Lisboa Logistics Park’s position as a strategic logistics hub on the Iberian Peninsula but also solidifies Merlin Properties’ role as a leading developer of sustainable, built-to-suit logistics solutions.
MUTUA MADRILEÑA – TORRES COLÓN
LOCATION: Madrid, Spain.
SECTOR: Offices.
GLA: 20,298 sqm
OWNER: Mutua Madrileña
TENANT: Garrigues
In one of the most significant office leasing transactions in recent years, Mutua Madrileña has secured a landmark agreement with Garrigues, a leading law firm in Spain and Continental Europe. Before refurbishment works were finalised, Garrigues committed to a 12-year mandatory lease, becoming the exclusive tenant of Torres Colón, a fully redeveloped, iconic office tower in the heart of Madrid’s Golden Mile.
The asset comprises 20,298 sqm across 30 floors and is now one of the capital’s most advanced office buildings, both architecturally and environmentally. The transaction is a testament to the renewed importance of the office, not only as a workplace but as a key instrument in attracting and retaining talent. While financial details remain confidential, the scale, exclusivity, and lease length underscore its strategic importance for both parties.
Originally designed in the 1970s by architect Antonio Lamela, the twin towers have long been a distinctive part of Madrid’s skyline. Mutua Madrileña acquired the asset in 1995 and launched a transformative redevelopment in 2020, led by Luis Vidal + Arquitectos, in collaboration with renowned engineers and firms including Hugo Corres, Calter, and Dragados.
The result is a next-generation office tower, seamlessly blending historical architecture with forward-thinking sustainability. The intervention added four new floors while maintaining the original structural height, and now includes 360-degree views, open-air terraces totalling 2,000 sqm, and a multifunctional auditorium with access to a landscaped courtyard.
Torres Colón is the first business tower in Spain classified as a Nearly Zero Energy Building (NZEB). Energy consumption has been reduced by 60% and emissions eliminated through renewable energy and advanced insulation systems. The building holds LEED Gold certification and is on track to achieve WELL Platinum.
This leasing operation not only places Garrigues in one of the most emblematic, sustainable, and people-centred buildings in Madrid but also reflects a broader shift in how companies view the office—as a high-value, strategic asset central to corporate identity and employee well-being.
With this bold commitment, both Mutua Madrileña and Garrigues have set a new benchmark in Madrid’s prime office market, a true magnet for talent.
More categories in the Iberian Property Investment Awards:
Full details of the other finalists will be announced in the coming days for the other categories that mark the premiere of these awards, which are:
- Deal of the Year in Spain
- Deal of the Year in Portugal
- Green Asset Initiative of the Year
- Social Impact Initiative of the Year
- Research Report of the Year
- Commercial Leasing of the Year
- Marketing Initiative of the Year
- Financial Innovation of the Year