Advenis buys an office building in Zaragoza for €11.6M

Advenis buys an office building in Zaragoza for €11.6M

Advenis Real Estate Investment Management has made its first investment of 2022: an office building in Zaragoza for which it has paid 11.6 million euros.

It is the fifth acquisition of the French asset manager in Spain, and it has done so on behalf of the investment company SCPI Elialys, which targets tertiary real estate in Spanish cities with high economic potential.

The building, located in an area near the historic center of Zaragoza, has a total area of ​​6,162 sqm, spread over four levels: three levels dedicated to offices and a basement with 70 parking spaces, all equipped with chargers for electric cars.

A single tenant, belonging to the energy sector, has occupied the entire building for more than 20 years and has installed its regional headquarters there, as well as its first digital office in Spain. Currently, he has a signed lease for six years.

At the end of 2020, the French fund bought three properties in Barcelona in an operation for 11 million euros. The three assets had a total area of ​​more than 5,500 sqm and were located in the CityPark business park. In total, the properties have 25 tenants, including Sauter Ibérica, Thermo Fisher and OHL, and a weighted average unexpired lease term of four years.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!