Urbania sells an office building in 22@ to a fund managed by Zurich

Urbania has sold the office complex located in 105, Sancho de Ávila to a fund managed by Zurich. CBRE advised in the sell-side for Urbania in this transaction. This transaction, which according to the newspaper Expansión would have been closed for about 15 million euros, demonstrates the interest of large investment funds in the 22@ technology district in Barcelona.

Located on the site of the former Llorenç Pons i Clerch soap factory and designed by BCA Blanch + Conca Arquitectura, this property has 2,331 square meters distributed between the first floor and six floors and several terraces totaling 745 square meters. The project will be LEED Gold accredited and will be occupied by a single tenant.

«This operation corroborates the idea that 22@ is a prime area. Institutional funds, the protagonists of this operation, want a lot of security, so it is normal for them to invest in prime locations and properties like this one,» said the Head of CBRE Barcelona, Xavier Güell.

«Companies are increasingly demanding higher quality buildings, both in terms of certifications and the features they offer. This building perfectly meets the search for these criteria,» explained the Director of Capital Markets at CBRE Barcelona, Alex Pazos.

This transaction demonstrates the «good health» of the investment market in Barcelona. The city closed the first quarter with 150 million euros in office investments.