CBRE GI acquires prime office campus in Barcelona (ES)

CBRE GI acquires prime office campus in Barcelona (ES)

CBRE Global Investors has completed the forward purchase of Z Green Oasis, a brand-new office campus in Barcelona’s 22@ district from Glenwell in an off-market transaction. Totalling 15,439m² of office space, Z Green Oasis consists of three new buildings alongside three converted modernist warehouses, all expected to complete by Q3 2023. The campus meets LEED Gold and WELL Gold standards, as well as the highest standards in sustainability due to more than 5,000m² of green space and outside terraces, as well as electric vehicle charging points. The campus, designed by the renowned architectural firm BCA, is located in Barcelona’s innovative 22@ district, and has excellent transport links that integrate the Barcelona metropolitan area and suburban transport such as the metro, urban bicycles, bus, tram and train.

 

Antonio Roncero, Head of Transactions Iberia, CBRE Global Investors, commented: "To cater for the increasing demand for best-in-class office space and de-densification, driven by discerning occupier requirements to provide flexible collaborative space, this acquisition perfectly met our investment strategy for smart, amenitised offices with strong ESG credentials. Barcelona is one of the most vibrant markets in Europe and 22@ one of its most attractive submarkets*, and so we anticipate above-average growth and strong returns** from this asset.”

 

David Sanchez, CEO of Glenwell Group in Spain and Portugal, said: "Z Green Oasis has been one of our reference projects. This transaction consolidates the group's objective of maintaining the strategy of developing quality and innovative real estate projects that meet the needs of a dynamic market, which seeks urban integration and value generation in a neighbourhood in constant movement such as the 22@ district. This is a commitment in line with the developments we have been carrying out at Glenwell Group since our arrival in Spain in 2017."

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