Colonial closes a new office rental contract in Madrid

Colonial closes a new office rental contract in Madrid
Egeo Building

Colonial has closed a new rental contract. In this case, in Madrid, where the company owns more than 40 buildings, with a leasable area of more than 823,000 sqm.

Specifically, Colonial has closed the rental of almost 1,500 sqm of offices in the Egeo Building, one of the office buildings that the Socimi owns in the capital, specifically in the Campo de las Naciones area, a few meters from the fairgrounds Ifema.

The new tenant of the Egeo Building is the coworking space company Instant Offices, which will occupy 1,483 sqm on the first floor of the building, located on Avenida del Partenón. Along with the office space, Instant Offices has also leased 40 parking spaces, in an operation advised by Knight Frank.

This building, with 18,254 sqm and 350 parking spaces, was acquired by Colonial from another Socimi, Lar España, in 2018, for 79 million euros. Its current tenants include the public company Ineco.

New rental contracts

Colonial, which closed the first semester with profits of 57 million, has achieved in 2021, the hiring of more than 59,784 sqm of offices, 42% more than in the same period of 2020.

Of these, around 26,000 correspond to the hiring of new spaces, with an "important activity" again in the semester.

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