Sonae Sierra and CBRE GI invest € 12 million at GranCasa shopping center

Sonae Sierra and CBRE GI invest € 12 million  at GranCasa shopping center

Sonae Sierra and CBRE Global Investors, co-owners of the shopping center, invested € 12 million in the renovation of the building. This new project will be built in the second floor of the shopping center, in a surface of 10,598 sqm. The result is «a state-of-the-art food area, with a wide and large variety of restaurants and innovator two floors space for playground, free and unprecedented in Zaragoza, and a themed outdoor terrace», explained Susana Betrán, Director at GranCasa.

The redesigning will improve the GranCasa visitors experience and position it as one of the gastronomic and leisure benchmark in the center of Zaragoza. To do so, they have been working in a cutting-edge and innovative design, environmentally friendly. The renovation works started in the beginning of July and are expected to finish for the spring of 2018, according to Pedro Rasgado, Sonae Sierra architect.

This new space will have 30 restaurants and kiosks, representing one of the widest proposals for leisure and food, in the entire region. «The project has been very well received by the operators and has already 80% of gross leasable area (GLA) rented», informed María José García, Leasing Deputy Manager at Sonae Sierra.

Alexandre Pessegueiro, Head of Asset Management de Sonae Sierra, noted: «The renovation of the food area at GranCasa is a big event for the clients and visitors of the shopping center, since it adds value, empowering the leisure offer to transform it into one of the most relevant and avant-garde in the region. On the other hand, Sonae Sierra continues its strategy of upgrading its assets, with an investment of € 12 million for GranCasa, on a total of € 200 million to all assets that owns in Spain».

Antonio Simontalero, Head of Investment Operations at CBRE Global Investors, added: «This renovation will position GranCasa as a first-class shopping center, which will have positive results for the clients and for the economic growth in the region. This project is a further evidence of our proactive portfolio management strategy, through shares of added value which allow to fulfill the customers need».

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