Castellana & AZCA is a trophy-tier Class A submarket of Madrid with average asking rent around €45/sqft/yr · ≈ $48.6 PSF/yr USD.
The historic CBD spine. · Tier: trophy · Avg rent: €45/sqft/yr · ≈ $48.6 PSF/yr USD
Paseo de la Castellana and the AZCA cluster anchor Madrid's trophy office market. Banking, professional services, and corporate HQs concentrate here.
Banking, corporate HQs, law firms, consulting.
20-40,000 sqft floor plates.
Nuevos Ministerios (Lines 6/8/10), Cuzco (Line 10).
Strong Metro coverage.
Santiago Bernabéu, Castellana retail.
Castellana & AZCA is one of 5 Class A submarkets we cover in Madrid, classified as trophy tier with an average asking rent around €45/sqft/yr · ≈ $48.6 PSF/yr USD. Compared with the broader Madrid Class A stock, Castellana & AZCA typically attracts Banking, corporate HQs, law firms, consulting and competes most directly with the city's other trophy submarkets on building specification, transit access, and amenitisation.
Adjacent submarkets to study alongside Castellana & AZCA: Cuatro Torres, Las Tablas & Arroyofresno, A-1 / Las Tablas, Méndez Álvaro / Atocha. The full Madrid submarket atlas is at /cities/madrid.
For an institutional Class A occupier evaluating Castellana & AZCA, the highest-leverage analyses to commission next are the rent benchmark, the concession-package comparable, and the ESG performance baseline. Class A Atlas covers each as a dedicated topic page for this submarket:
Terminology specific to Madrid Class A leasing and to the trophy tier: Class A, Trophy asset, Effective rent, Concession package, TI allowance, Submarket tier.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.