IREIT Global signs two new leases in Spain

These increased the company’s occupancy rate to 83% from 77%.

IREIT Global (IREIT) secured two new leases in June for 5,200 square meters (sq. m.) in its Spanish Portfolio, increasing its occupancy rate to 83% from 77%.

The first lease has a total lettable area of 1,622 sq. m. and came from the continued expansion of a data centre operator within Sant Cugat Green.

This brings the tenant’s total footprint to over 7,500 sq. m., making it the largest tenant in the building as well as IREIT’s Spanish Portfolio.

The second lease involves a seven-year lease for 3,550 sq. m. in Parc Cugat Green, covering the entire ground floor and part of the first floor.

This brings the building to full occupancy and improves the weighted average lease break to over 4 years as of 30 June.

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