M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has let c. 1,000 sqm of office space in Alcobendas, an established business hub near Madrid, Spain, to Böllhoff, an international company leading joining technology.
Böllhoff has signed a new 10-year lease for the space in CAOBA Building which will serve as its headquarters in Spain, increasing the overall occupancy of the c. 14,500 sq m asset to 85%. The new occupier plans to install additional electric vehicle chargers at the property which features strong sustainability credentials with a LEED Gold rating. The building is also let to a diverse mix of businesses, including a company of health diagnostics services and a leading company in Testing, Inspection and Certification.
CAOBA Building is situated in Alcobendas only 16 kilometres north of Madrid city centre, benefitting from excellent connectivity and strong submarket fundamentals.
Belén Hernández Orduña, Asset Manager at M7 Real Estate, commented: “We continue to see robust occupier demand for well-located, flexible assets surrounding the Spanish capital, evidenced by the recent leasing activity which the team has undertaken in Alcobendas. The ongoing momentum is testament to our asset management team and creates a strong income stream. We remain focused on letting up the remainder of the space.”
