Immo-news.net : the real estate information website

In the field of investment, the consultant carried out deals valued at more than 1,431 million euros

Cushman & Wakefield has valued properties with an area of more than 2,627,000 m2 , to the value of almost 5,900 million euros

The consultant’s current portfolio in Spain exceeds 2.6 million square metres

The global real-estate consultant Cushman & Wakefield (C&W) has closed a total of 260 real-estate deals in Spain – including lease transactions, property purchases and sales, as well as property management and valuations – in the first six months of 2007.

During the first half of the year, transactions carried out by the Investment department of Cushman & Wakefield exceeded a total of 1,431 million euros. As for Retail investments, they totalled 418 million euros and related to consultancy work for British Land in the purchase of the Nueva Condomina shopping centre in Murcia (120,000 m2) – the most significant deal in the shopping centre investment market in Spain in 2007; for the German fund SEB in the sale of the Los Alcores shopping centre in Alcalá de Guadaira (25,200 m2) and for PC City in the sale of its commercial warehouse in Alcorcón (5,000 m2). In the Business Space department, transactions are valued at almost 1,013 million euros, with those carried out for Espais and Iberfindim standing out as highlights, along with the assistance provided to GE Real Estate Iberia in the valuation of part of the property portfolio of Landscape (Banco Sabadell’s real-estate agency which was sold to Astroc).

Transactions by sector

Broken down by sector, the office department concluded 65 transactions relating to leases of this type of property. Worthy of mention here is the management work carried out for the new Lease Plan headquarters and the new office building for Vocento in Madrid. Highlights in Barcelona, meanwhile, include locating the central headquarters of Panasonic and also leases for such well-known companies as Transcom, Glaxo Smith Kline, Oracle and BBraun Medical, among others.

In the industrial sector, some 54 transactions were coordinated during that first half of the year, with a total managed area of almost 155,000 m². Of significance here was the sale of various industrial plots and warehouses of Air Liquide (Villaverde), Sun Chemical (Erandio) and Wincanton (Irún). Furthermore, in the province of Barcelona, the consultant managed operations – in projects involving both sales and leases – for clients such as Federación Farmacéutica (Gavà Park), Barnastock (Polinyà), Alcón Cusí (Santa Perpètua de Mogoda) and Howard Ibérica (Les Franqueses).

In the retail sector (shopping and leisure), Cushman & Wakefield continues to take the lead in the marketing of some of the most important shopping centres currently being promoted in Spain, such as Nueva Condomina (Murcia), Sueca Parc (Valencia), La Vega in Alcobendas (Madrid), El Teler (Alicante), El Deleite (Aranjuez), Mandarache (Cartagena) and Espacio Buenavista (Oviedo). C&W’s office in Madrid has also advised retail clients such as Primark, H&M, Telefónica, Samsonite, Rosa Clarà and Saloni. For this last company, the leader in ceramic wall and floor tiles, the services provided by C&W have included locating its first direct sales shops in Madrid (the retail parks Mega Park, in San Sebastián de los Reyes, and Parque Oeste in Alcorcón).

In turn, in Barcelona it has undertaken the lease of commercial premises for operators such as the AN Group (Rambla de Catalunya) and Banesto (Provença).

In the Asset Management department, the consultant has been selected to manage 390,000 m2 relating to five shopping centres distributed throughout the whole of Spain: Parque Corredor (Torrejón de Ardoz), Puerto Venecia (Zaragoza), Los Fueros (Baracaldo), Errebal (Eibar) and Alovera (Guadalajara).

More than 2.6 million m2 valued

When it comes to Cushman & Wakefield’s Valuations department in Spain, in the first half of the year it carried out 55 transactions comprising the valuation of 2,627,562 m2 for almost 5,900 million euros. Main clients have included Zaphir, Klepierre, Banco Santander, Coperfil, Redevco and Rodamco.

Seven projects for the new Project Management department
Together with the Residential Property and Hotels departments, the Project Management department is one of the most recently created departments at Cushman & Wakefield in Spain. In the first six months of 2007, it managed seven projects for clients such as General Electric, Softonic, Transcom, Invesco, Nokia, Lucent Technologies and Motorola

source : Cushman & Wakefield Spain