The 900 sqm Pingo Doce Vale do Lobo is located near the resort’s entrance. The Quinta do Lago supermarket is located at Praça Buganvília and has 630 sqm. Both will continue to be operated by supermarket chain Pingo Doce.
JLL’s Private Wealth team, which is part of the Capital Markets department, was involved in this deal, representing the seller. Fernando Ferreira, Head of Capital Markets at JLL, considered that this transaction «reflects the growing interest investors have been showing for supermarkets in particular and food retail assets in general. This is a segment that had been under real estate investors’ radar before, but which sparked investors’ appetite even more with the resilience it showed during the pandemic. This segment had a particularly positive performance during this difficult period and it adds to that low risk and long-term returns».
He further added that this is «a type of asset suitable for several types of investors, amongst which private investors, whose investment tickets usually do not reach above 5 million euro. That is why this has been a product increasingly more in demand».
Fernando Ferreira also considered that the consultant «has been very active in Algarve, where several new opportunities in segments such as retail and offices are starting to appear. We recognise the enormous potential real estate has in this region and, as such, we already have a permanent team at our Quinta do Lago office, prepared to provide full support to our clients, not only in terms of investment, but in other types of service as well».
