Who hasn’t wondered at some point how much a skyscraper, a casino, or a shopping mall costs? A question with no real purpose or benefit beyond imagining that“closing down a shopping mall just so I can eat an ice cream all by myself,”as Rosalía sang in “Milionària.”But whether it’s to daydream, share the fact with friends over dinner, or submit a purchase offer (you never know who might be reading this), the fact is that Barcelona’s Diagonal Mar is on the market for 500 million euros.
Deutsche Bank, Germany’s largest bank, has put the building up for sale ten years after acquiring it in 2016 for 493 million euros. The iconic building on the Diagonal has a total floor area of more than 300,000 square meters and more than 90,000 square meters of leasable space, making it one of the most important commercial areas in the entire country.
Although the building is owned by the German bank, the transaction is being handled by the management firm DWS in collaboration with the consulting firms JLL and CBRE. It’s estimated that between rent from the numerous stores, parking revenue, and other passive income, the shopping center (as a real estate asset) generates more than 25 million annually.
An iconic building for the city of Barcelona, not only because it’s been open for nearly 25 years, but also for its architectural style: curved, contemporary, with open spaces and natural light taking center stage throughout the entire complex.
