Savills IM acquires supermarket properties in Spain for European food retail strategy
Savills Investment Management has acquired two new Aldi supermarkets in Spain for its European food retail strategy. The purchase price was not disclosed.
The strategy now has capital commitments from German institutional investors of around €370 million ($409 million), raised since 2020.
The first supermarket in Alzira, Valencia, was acquired from developer Ten Brinke at the end of June and comprises around 1,660 square meters (17,898 square feet). The asset benefits from growing local demand for food retail and has leading food retailer Aldi secured as a long-term tenant for the entire space.
The second, a newly constructed property in Aranjuez, south of Madrid, has around 1,770 square meters (19,052 square feet) of lettable space and was acquired from developer OMO Retail at the end of 2022 as part of an off-market transaction. The location benefits from its proximity to Madrid and a fast-growing retail market in the region. The property is also fully let t