Colonial rents the Castellana 43 building to the giant co-working company, WeWork

13/10/2017

Colonial rents the Castellana 43 building to the giant co-working company, WeWork

WeWork, the company dedicated to creating co-working spaces, has commenced its business activities in Spain. The American company has chosen Madrid as the location for its head office and will be located in the Castellana 43 building, owned by Inmobiliaria Colonial. WeWork is also planning on opening another office in Barcelona and will be located in Distrito 22@.

The Castellana 43 building previously housed the Abengoa head office, which moved in July 2016. WeWork will not occupy all the office space, but will instead share the building with the Larrumba Group, which is dedicated to the hospitality business.

The property has undergone intense renovation after which it obtained the Leed Gold certification, a characteristic which, together with its privileged location on the axis of the Castellana and calle General Martínez Campos, puts it in the spotlight for several companies.

WeWork is one of the largest co-working businesses in the world. The company, based in Brooklyn, has managed to captivate large companies such as Spotify, Salesforce, Microsoft, Bank of America and KPMG, who have contracted its services for some of its subsidiaries around the world.

Castellana 43 has a total floor area of 5,998 square metres, spread over nine floors and with more than seventy parking spaces.

Thanks to this transaction, marketed by consultancy firm Cushman & Wakefield, Colonial has managed to maximise the profitability of the property.

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