Bluetab, part of the IBM group and specialising in Data and Cloud solutions, has announced its move to new offices located in Edificio Ruiz Picasso 11, in Madrid's Azca financial district. This operation has been advised by Cushman & Wakefield.
Previously located on Calle del Poeta Joan Maragall, Bluetab's new headquarters in the iconic Merlin Properties building will comprise 2,146 square metres of space. The move to Edificio Ruiz Picasso reflects the trend for multinational companies to select sustainable and technologically advanced headquarters, with prime location and services.
Large companies' commitment to buildings with ESG criteria
According to Fernando Arcos, partner and director of occupier representation at Cushman & Wakefield in Spain, large corporations such as Bluetab are prioritising buildings that are aligned with ESG (environmental, social and governance) criteria for their headquarters, in line with their sustainability and talent attraction policies.
According to data from Cushman & Wakefield, Madrid's CBD (Central Business District), particularly Azca, continues to be the most sought-after office market in the city. In recent months, the financial district has accounted for 45% of the total number of transactions and 36% of the total amount of office space taken in Madrid, 5% higher than in the same period last year. During the third quarter of 2023, more than 30,000 square metres have been signed in 40 new contracts, with 77% of the space in high quality A/B+ buildings in the CBD. Arcos emphasises that Azca remains the most attractive area for companies in the Madrid office market.
The addition of Bluetab to the Azca district follows the presence of other major technology companies in the area. Merlin Properties' Ruiz Picasso Building, located in Plaza Ruiz Picasso, stands out for its advanced technology, flexibility and commitment to the highest standards in ESG and Innovation. In addition, the building is seeking certifications such as LEED Platinum and WELL Core & Shell Gold, which recognise the sustainability of the asset, as well as WiredScore and SmartScore, which certify its connectivity.