AEW has agreed to acquire Alcora Plaza, a prime, grocery-anchored retail park in Parque Oeste, Madrid, in Spain. The asset has been acquired on behalf of one of AEW’s funds from Goldman Sachs Asset Management, who acquired the former IKEA store in 2017 and transformed it into a multi-tenant retail park.
Alcora Plaza comprises 16,400 square meters (176,500 square feet) of recently refurbished space divided into 14 retail units, alongside a food court, recreational area, and external and indoor parking areas. The park has an occupancy of 95 percent with a WALB of five years and is let to a highly diversified mix of occupiers spanning the grocery, food and beverage, fashion, sports, and retail sectors, including Lidl, Kvik, Milbby and Taco Bell.
The shopping center is situated in Parque Oeste, one of the largest retail hubs in Spain, welcoming more than 30 million visitors per year. Parque Oeste has a prominent location with excellent links to Madrid’s city center, as
