El Parque shopping center sold for €17M

El Parque shopping center sold for €17M

The center, located in an urban area in the city of La Mancha, has a gross leasable area of more than 20,000 sqm, and it is more than 95% occupied. Among its tenants are major operators such as Carrefour, Merkal, Tedi or Inside.

The buyer has been the company Inversiones Parque Ciudad Real, S.L., a private equity company.

For Salvador González, national director of Retail investment at Savills Aguirre Newman, «this operation demonstrates the investment interest in proximity urban assets with convenience and food tenants in secondary cities. »

In addition to Savills Aguirre Newman, on the legal side, DJV and DLA adviced through the selling side and Garrigues on the buying side.

Moreover, Carrefour Property has reached an agreement whereby it will be responsible for the management, marketing and asset management of the shopping center. «The company is committed to revitalizing the center thanks to the synergies provided by the portfolio of centers managed by Carrefour Property, bringing excellence to the provision of services and customer experience», said Auxiliadora Martínez de Salazar, director of commercial management and business development at Carrefour Property.

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