Telefónica has sold four properties across Spain to Beach Bienes Inmuebles for €50m. All of the buildings are currently occupied by Telefónica, which will remain the anchor tenant for a period of seven years, with an option to extend by an additional five years. The properties located in Madrid, Barcelona and Santander may be used for residential purposes, while the one in Zaragoza may be used for offices. Located on Paseo de la Independencia, the Zaragoza property covers a surface area of 5,795 sqm. It was designed by Ignacio Cárdenas Pastor and built in 1926.
