Arcano and Cofares Close the First Large Office Transaction of 2021

The company has rented the Abril Building, located in the La Moraleja Business Park, which spans more than 8,000 m2. It will move in in the spring.

The pharmaceutical distribution company Cofares has rented the Abril Building, located in the La Moraleja Business Park, and owned by a fund of the Spanish manager Arcano Asset Management. The company will move from its current offices in the Fuencarral neighbourhood to the newly built asset in the spring.

The bulk of the negotiations have taken place since the summer and the reason for the move is the need to adapt to the new requirements imposed as a result of Covid. The agreement has been closed under the ‘rent-with-the-option-to-buy’ formula, according to El Confidencial, since, according to Eduardo Fernández-Cuesta, Head of Real Estate at Arcano, speaking to Brainsre.news, the fund’s intention is to sell the aforementioned asset.

Read the full article in Spanish.