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Real estate investor CONREN Land and the Hugas brothers, together with their Spanish real estate investment and project development company Conren Tramway, have sold the striking Llull 122 office building in the heart of Barcelona's dynamic 22@ South district. The off-market transaction with an international private investor took place at the end of December 2025 – just six months after completion of the property, which is already fully let. The purchase price was not disclosed.
The building, similar in shape to the Greek letter lambda, is pre-leased on a long-term basis to the world's leading cybersecurity provider CrowdStrike, which will set up its EMEA headquarters there. The choice of Barcelona as a location underlines the strategic importance of the city for growth and competition for international talent.
Designed by BAAS Arquitectura, Llull 122 offers around 5,000 m² of office space and about 730 m² of outdoor space. The stepped office property has terraces on each floor. The innovative architecture, the automated natural ventilation system and the intelligent sun protection stand for maximum efficiency and comfort with minimal energy consumption. The building is LEED Platinum certified. A comprehensive micromobility program as well as numerous parking facilities and e-charging stations underline the sustainable character.
The transaction highlights the positive development of the 22@ South submarket, which is characterised by the settlement of international technology companies, rising prime rents and growing interest from private investors. Its location on the Badajoz axis, surrounded by companies such as Glovo, Rakuten, NTT Data and Bridgestone, makes it the most dynamic business location in Barcelona.
"After COVID-19, letting activity for office space has fully recovered in 2024 and 2025. In addition, we expect occupancy figures to be even higher over the next two years, putting the office market in a very solid position. And best of all, the investment market is also recovering, mainly supported by local private and institutional investors, supplemented by growing interest from international investors," says Roman Klasen, Managing Partner at CONREN Land.
The buyer was advised by the commercial law firm Osborne Clarke on legal and technical issues. Conren Tramway's legal advice was provided by the law firm Garrigues.
