AEW has acquired a 26,677-square-meter (287,149-square-foot) urban retail park in Granada, Spain. This off-market acquisition was made on behalf of an existing fund for French retail clients. The transaction provides the fund’s portfolio with exposure to a well-established retail destination in one of southern Spain’s key metropolitan areas.
The asset is located within the Granaita Retail Park, a major shopping destination in Granada, which offers approximately 105,000 square meters (1.1 million square feet) of retail space and is anchored by leading national and international operators including Carrefour, Decathlon, Kiabi, Kinepolis, Brico Depôt, Action and Mercadona. The acquired asset comprises five buildings offering a total of 26 units across two main areas, with an 18,657-square-meter (200,822-square-foot) retail area comprising 10 units, including food and fashion retailers, and an 8,020-square-meter (86,326-square-foot) mixed-use gallery area comprising 16 units
