Hines’ European Development Fund Announces Lease With Hertz for Tripark Las Rozas in Madrid

 (MADRID, SPAIN) – The Madrid office of Hines, the international real estate firm, announced today that the Hertz car rental company has signed a long-term lease for 20,788 square feet of office space in Hines’ recently completed Tripark Las Rozas (www.tripark.es) business park in northwest Madrid.

Hertz will relocate its central Spanish headquarters from the nearby José Echegaray Street, 6 building.

Hertz was represented in lease negotiations by Jones Lang LaSalle and The Property Company.

Hines was self-represented.

Designed by renowned Spanish Architects Allende Arquitectos, Tripark Las Rozas contains three four-story buildings totaling 351,875 square feet of Class A office space.

The buildings are located in the Madrid suburb of Las Rozas, and are situated at a highly visible intersection of the A-6 motorway and the M-50 ring road.

Tripark Las Rozas is the first real estate project in Spain to receive LEED Gold, which is awarded by the U.S. Green Building Council (USGBC) to certify that the property is highly efficient and sustainable. Some of the building’s most outstanding features are its comprehensive management and control system; its use of natural resources; efficient water and waste management; the use of recycled, non-toxic and easily recyclable materials; energy optimization; and the general quality of the environment within the property.

“We are pleased to welcome Hertz into Spain’s most sustainable property,” said Fernando Arenas, general director of Hines Spain.

“We are convinced that creating green and energy efficient work spaces results not only in improving the well-being of employees, but also in company productivity.”

"Relocating our employees to Tripark Las Rozas underscores Hertz’s policy of respecting the environment and attests to our commitment for sustainable surroundings," said Juan Carlos Azcona, general director of Hertz Spain.

With the signing of this lease, Tripark Las Rozas is 40 percent leased.

DIA Group supermarket chain moved into the complex earlier this year.

Hines entered the Spanish market with a strategic investment in Barcelona in 1995.

That investment, known as Diagonal Mar, centered on 84 acres of land fronting the Mediterranean Sea. The project is one of Europe’s largest mixed-use developments totaling over four million square feet consisting of a retail and leisure center, five residential phases, three hotels, three office buildings and the third-largest public park in Barcelona.

In 2000, Hines expanded its operations in Spain by opening a Madrid office, and in 2004, a Marbella office.

Today, Hines Spain has over 25 employees involved in development, leasing, financing and asset management.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,119 properties representing more than 457 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments. With offices in 100 cities in 17 countries, and controlled assets valued at approximately $23 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems. Visit www.hines.com for more information.