2023-04-24 13:29:21
One of the most iconic office buildings in Madrid already has its first tenant. Is about The Cubes, which will now house the headquarters in Spain of the technological company Kyndryl.
The world’s largest provider of IT infrastructure services has sealed the long-term rental of the first four floors of the building, which include a private terrace of 1,000 m2and will allow company employees to enjoy the common terraces of the building, 3,500 m2 of green spaces, a restaurant, a paddle tennis court and a gym, among other services.
Located at number 5 Albacete street in the capital, near the A-2 and the M-30, the property has more than 19,000 m2 distributed over nine floorsand it has been empty for several years, although in the past it housed the headquarters of companies such as Iberia or Alstom, and owes its ‘nickname’ to its peculiar design.
Since 2017 it has been in the hands of the British real estate investment fund Henderson Park, after buying it from Realia for 52 million euros. Following a comprehensive refurbishment of the asset, Kyndryl is its first tenant and will occupy almost half of the building, although the London-based fund has confirmed that it is in active negotiations to lease the space that remains available on the top five floors of the building, which also include three private terraces with excellent views over the city.
Built between 1976 and 1981, Los Cubos is one of Madrid’s most famous and recognizable office buildings thanks to its iconic brutalist architecture. Since it was acquired by Henderson Park, and in line with the firm’s value-added strategy, a comprehensive remodeling has been carried out to modernize the façade and interiors of the building, in addition to completely renovating and improving the technology and category of the real estate asset to meet the highest standards of efficiency and sustainability, as evidenced by obtaining the LEED GOLD certification. It is located at the junction of the M-30 and the A-2 and very close to two metro stations.
“Los Cubos is a representative, unique and recognizable building of the Madrid skyline and, thanks to our cutting-edge renovation focused on environmental sustainability, it has been repositioned as a grade A office, ideal for modern tenants who increasingly value the sustainability, well-being and the efficiency of your workspace. This successful project is yet another example of Henderson Park’s solid track record in rehabilitation works, with sustainability being one of the fundamental pillars of our investment strategy,” he says. Christophe Kuhbier, Director General de Henderson Park.
According to the executive, “There continues to be a considerable shortage of quality office space in Madrid” and this long-term lease agreement “demonstrates the desire of leading companies to occupy world-class, sustainable, well-connected office space that encourages their staff to integrate and collaborate.”
Cushman & Wakefield and Rivoli Asset Management have participated in the leasing operation as commercial advisers; and Ashurst LLP and Ceca Magán as legal advisors.
#Los #Cubos #building #receives #tenant #idealistanews