LaSalle has acquired the retail and commercial park Las Mercedes Retail Park in the east of Madrid on behalf of its pan-European open-end fund Encore+.
Completed in 2015, the retail park comprises a total lettable area of just under 22,000 square meters (236,806 square feet). The asset is fully let and anchored by the DIY retailer Bauhaus as well as the discount grocery store Aldi. In addition to already existing solar panels, further measures to increase energy efficiency and sustainability are planned over the long term.
The property is located in the Barajas district of Madrid, within a higher-than-average income catchment area of about 440,000 inhabitants. There are numerous shopping and leisure facilities in the immediate vicinity, including the highly frequented Plenilunio shopping center. The neighboring Mercedes Business Park is home to more than 12,000 employees of numerous international companies such as Coca-Cola, Vodafone, Fedex and DHL.
Las Mercedes
