updated 01:20 pm EST, Tue January 18, 2011
Conditions helped scare away other tenants
Apple has settled on the location of another Madrid Apple Store, a local publication reports. The building is a historic one at 1 Puerta del Sol, which Apple is said to have finally agreed to lease after scouting the city for roughly two years. It has five levels in total, and is described as having elaborate stonework on the ground floor, and above that rows of tall windows and wrought-iron railings. An electric sign on the top serves as a local landmark for visitors to the Puerta del Sol Plaza.
The building is family-owned, but has been on the market for about five years. Part of the reason is likely to stem from limits imposed by city officials, mandating that hotel occupancy remain on the upper floors. Hope is said to exist that the upper space will be renovated into a three- or four-star hotel.
Apple currently has only two stores in Spain, split between Madrid and Barcelona. The company is believed to have plans for 10 more, however, including the one at Puerta del Sol. The latter could potentially be open by the end of 2011.