According to the manager, the building generates an annual GRI of approximately EUR1.5 million as at Sept 23. Tenants comprise blue-chip companies including IBM spin-off Kyndryl, KLB Group and Grupo Escada.
The manager of IREIT Global has announced that it has acquired an office building in Barcelona, Spain for a total consideration of EUR27.2 million ($43.1 million) on Sept 23.
The freehold Grade A office building, named Parc Cugat, has a gross lettable area of approximately 15,510 sqm and is located within a business park in Sant Cugat del Vallès. It currently has a committed occupancy of 64%, including 76.5% occupancy for office space only. It has a weighted average lease expiry by gross rental income (GRI) of approximately 6.8 years.
