(Adds details on deal)
MADRID, June 28 (Reuters) - Spain's Metrovacesa said on Monday it had signed a 170-million-euro ($206 million) deal with Renault to buy a plot of land from the French car maker and rent part of the site back to it.
Metrovacesa will develop the 92,000-square-metre site in Madrid into a business park and a Spanish headquarters for Renault, including a training centre.
The real estate firm will let the buildings for at least 10 years, it said in a statement.
Renault shares were trading up 1.5 percent as at 1037 GMT, just outperforming a 1.3 percent rise on the DJ Autos index . Metrovacesa stock was off 0.2 percent, in a positive Madrid market.