Market Report -- Madrid, Spain

Market Research

Properties

Madrid, Spain

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Sol
Last Updated: 12-Nov-2009

* Click on each category for a detailed definition.

	RENT/M2/MONTH			RENT/SF/YEAR
	Low	High	Effective Avg.	Low	High	Effective Avg.	Vacancy	Investment Yield
City Centre Office
New Construction (AAA)	€ 22.00	€ 32.00	N/A	$ 30.93	$ 44.99	N/A	5.5%	7.5%
Class A (Prime)	€ 16.00	€ 24.00	N/A	$ 22.49	$ 33.74	N/A	8.0%	7.0%
Class B (Secondary)	€ 14.00	€ 18.00	N/A	$ 19.68	$ 25.31	N/A	15.0%	7.5%

Suburban Office
New Construction (AAA)	€ 20.00	€ 30.00	N/A	$ 28.12	$ 42.18	N/A	30.0%	7.5%
Class A (Prime)	€ 8.00	€ 19.00	N/A	$ 11.25	$ 26.71	N/A	15.0%	7.3%
Class B (Secondary)	€ 5.00	€ 10.00	N/A	$ 7.03	$ 14.06	N/A	N/A	7.0%

Industrial
Bulk Warehouse	€ 4.00	€ 6.00	N/A	$ 5.62	$ 8.44	N/A	N/A	8.0%
Manufacturing	€ 3.50	€ 6.00	N/A	$ 4.92	$ 8.44	N/A	N/A	7.5%
High Tech / R&D	€ 5.00	€ 6.00	N/A	$ 7.03	$ 8.44	N/A	N/A	8.0%

Retail
City Centre	€ 55.00	€ 126.00	N/A	$ 77.32	$ 177.14	N/A	N/A	7.0%
Neighborhood Service Centers	€ 10.00	€ 11.00	N/A	$ 14.06	$ 15.46	N/A	N/A	7.0%
Community Power Center (Big Box)	€ 4.00	€ 5.60	N/A	$ 5.62	$ 7.87	N/A	N/A	7.0%
Regional Shopping Centres/Malls	€ 6.00	€ 7.00	N/A	$ 8.44	$ 9.84	N/A	N/A	7.5%
Solus Food Stores	€ 10.00	€ 14.00	N/A	$ 14.06	$ 19.68	N/A	N/A	8.0%

Development Land	Low/ M2	High/ M2	Low/SF	High/SF
Office in CBD	€ 700.00	€ 1,050.00	$ 82.01	$ 123.01
Land in Office Parks	€ 210.00	€ 630.00	$ 24.60	$ 73.81
Land in Industrial Parks	€ 525.00	€ 210.00	$ 61.51	$ 24.60
Office/Industrial Land - Non-park	N/A	N/A	N/A	N/A
Retail/Commercial Land	€ 175.00	€ 630.00	$ 20.50	$ 73.81
Residential	€ 525.00	€ 2,275.00	$ 61.51	$ 266.52

Conversion 0.793€ = 1 US$

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