Just a few weeks ago PowerCo, the company responsible for the future Seat-Volkswagen gigafactory in Sagunt, opened its headquarters in the center of Valencia, in the Rex building located opposite the North Station and a few meters from the Plaza del Ayuntamiento. A central location, chosen mainly with its employees in mind.
In the operation in Valencia, they were advised by CBRE, a real estate consultant that these days is taking stock of the 2022 operations and that warns that, after having closed with a contracted area of 41,600 square meters, the vacancy rate of offices in the Valencian capital is “at historical lows”. They assure that contracting is being "very limited" due to the availability of spaces, since the rate is 4.5% of the total stock, which is 874,000 square meters.
The main reason is the boom in technology companies, they explain, which are especially "receptive" and are incessantly looking for spaces to locate their teams. In fact, they explain that there is no demand that does not require at least a minimum of 40 jobs... a challenge that is not particularly easy for the Valencian real estate market.
They know it in the sector, which works hand in hand with local authorities and offices such as Invest in Valencia. The last operation managed was that of the multinational Toshiba Mitsubishi-Electric Industrial Systems Corporation, which, through its Spanish subsidiary TMEIC Port Technologies, has installed itself in a 1,000-square-meter office in the CV15 building, on Avenida de las Cortes Valencianas, the so-called New Business Area.
For Molina, “this operation reinforces what we have been warning about for some years, that more and more companies are looking for buildings with sustainability certifications, something that is becoming essential for their needs. In Valencia, the presence of buildings with certification is almost nil and we have to reinforce it together to continue attracting quality companies that are respectful of the environment”.
As they explain, there is a shortage of supply in the main office areas of Valencia, especially in the downtown area, one of the most demanded. The other area that is growing is that of the Alameda as well as that of La Marina, which due to the high interest it arouses is beginning to be drawn in plan from the City of Arts and Sciences.
“There is a tendency to think that the Marina is only from the inside port, but really it is of interest to all Maritime Towns, a much larger area. We are already counting from the Aqua shopping center to the port of Valencia”, explains Katrina Molina, a CBRE consultant specializing in the Valencian office market.
In addition, there are other spaces with less interest but which also have a lack of offices, such as business parks and the Vara de Quart area, whose renovation is expected to be carried out by the City Council with a project that seeks to be assimilated to Barcelona's 22@.
In 2022 there has been a notable increase in operations of more than 500 square meters, which already account for 50% of the contracted area; and they ensure that the demand trend is leaning towards larger surfaces, equipped with state-of-the-art facilities in search of the well-being of employees.
“We have been seeing for some time that the one who comes to the meetings is not the head of finance, it is the person in charge of human resources, because they are looking for open spaces, of about 500-600 square meters, because people after the pandemic want to return only if the office It is an attractive place”, explains Molina, whose workspace is an example of this new trend: offices conceived as socialization environments with flexible spaces, common and leisure areas that can include a terrace, barbecue, rest areas, bicycle parking, sustainable certifications and above all, good communications.
