Alerce Real Estate is to develop a medium-sized retail park in Colmenar Viejo, Madrid, on a consolidated urban plot of 40,000 sqm. The project, named Alerce Park Colmenar, will have a gross lettable area of over 14,500 sqm and already has more than 85% of its space let, according to information provided by the company.
The future park will include two food retailers and around ten brands, including Action, Muller and Guaw. The development will be situated next to the Renfe station and close to various public and private amenities in the municipality, with a direct catchment area of over 150,000 residents.
The development will have over 500 parking spaces and direct access to the various retailers. The project has already been granted planning permission, so work will begin shortly, with the aim of opening the retail park by the end of 2027.
The project also includes a second phase on the same site, covering an additional area of over 7,000 sqm. This phase could involve the development of a new building for medium-sized retail units of up to 2,500 sqm and a free-standing unit, although this will depend on demand and the interest of the retailers.
Borja Arambarri, Director of Development and Expansion at Alerce, has pointed out that the project addresses the need to bring supermarkets and other retail outlets to the southern part of Colmenar Viejo. According to the director, the presence of two food retailers is expected to attract an estimated 5,000 customers a day.
The company estimates that the development will create more than 200 direct jobs. The development will also aim to achieve BREEAM ‘Very Good’ certification, with measures relating to energy efficiency, accessibility and resource management.
Colmenar Viejo “has doubled its population over the last 25 years, exceeding 60,000 inhabitants and ranking among the ten fastest-growing municipalities in Spain”, added Borja Arambarri.
For his part, Jorge Domínguez Jiménez, deputy mayor and councillor for Urban Planning and Activities in Colmenar Viejo, noted that the investment will provide new services to the La Estación neighbourhood and respond to the growth of this residential area.
The project joins other developments by Alerce Real Estate in the Community of Madrid, such as the retail park in Aranjuez, on which work began in July 2025 and which is scheduled to open in November 2026, and the commercial plot acquired in Valdecarros, where the company plans to develop another retail park.
