The corporate aviation company Grupo Gestair moves its offices to the Albatros Building, managed by FREO. After completing the leasing operation, the largest corporate aviation group in Spain and a benchmark in Europe for more than 40 years will have 1,738 square metres and 30 parking spaces.
In this context, the real estate consultancy BNP Paribas Real Estate has been chosen to advise FREO Group in the leasing operation.
Located in Arroyo de la Vega, an established business area, the Albatros Building has been comprehensively refurbished respecting its unique architecture, with large windows that maximise natural light and newly refurbished landscaped areas and common areas including a dining room and gymnasium for the common use of the building's occupants. The building's commitment to the environment has been recognised with LEED Gold certification.
The Albatros business complex consists of four buildings located on the front line of the A-1 axis, with excellent brand visibility in an area that is home to leading multinationals on the international scene. Its privileged location also provides easy access from the M-30, the M-40 and Barajas Airport.
"It is a pleasure to have accompanied FREO Group in the leasing of its offices in the Albatros building, an icon in Arroyo de la Vega that guarantees the user an environment of unique architecture and optimal corporate visibility. This transaction reflects the trend we have seen in the last quarter in the office market: companies looking for space of more than 1,000 square metres outside the city of Madrid and where two highly sought-after criteria are of paramount importance: ESG and connectivity", says Benjamin Gómez, head of offices at BNP Paribas Real Estate.
Consolidated demand
BNP Paribas Real Estate's latest office market investment report notes that the levels of office space taken up in the third quarter of 2023 are already beginning to resemble the pre-pandemic period, with an upward trend in rents in quality buildings, showing that the dynamism of this market has not been lost, but rather continues to advance.
On this point, if we analyse the behaviour of demand by zones during the third quarter of the year, the decentralised and peripheral areas have concentrated most of the contracted surface area, specifically 61% of the demand. In addition, the decentralised area recorded 39% of contracting this quarter. The second area with the highest take-up was the periphery, with 22% of market demand and 33% of the transactions registered in this period.
The average area under contract in the quarter was 1,059 sqm, 10% higher than the average demand in the previous quarter, highlighting the return to the market of higher volume demand.
