Alerce Iberian Properties will develop a medium-sized retail park in the neighbourhood of La Montaña, in the Madrid municipality of Aranjuez. The project will occupy a 50,000 sqm plot, with a Gross Lettable Area (GLA) of more than 17,000 sqm and more than 7,000 sqm of landscaped areas.
Construction is scheduled to begin before the summer of 2025, with the aim of opening to the public during the third quarter of 2026. The park will have between 16 and 18 retail units and more than 500 parking spaces. The commercialisation of the asset, by Grupo 4 RE, is at an advanced stage, according to the company, thanks to the interest shown by operators from different sectors.
The project will include two anchors in the food sector, as well as home equipment, catering, automotive and sports brands. Alerce estimates that this new development will generate more than 350 jobs, both direct and indirect, in an area with a catchment area of more than 130,000 inhabitants.
The business park will be built under sustainability criteria with the aim of obtaining BREEAM certification. In the words of Borja Arambarri, director of development and expansion of Alerce, ‘this is a strategic project in the short term, in which we are absolutely committed and excited with the magnificent reception it is having. The layout, location, accessibility and commercial mix make this project a retail park with the exact characteristics demanded by customers and operators today’.