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Centro Luna, new owner for the arcade

21 December, La Nazione

The arcade of Centro Luna in Sarzana was bought by Igd, Immobiliare Grande Distribuzione, from Bologna. The operation is included in a preliminary agreement signed by the company for the acquisition of a portfolio composed of shopping arcades and a retail par for a total investment of 200 million euro. Igd commented the acquisition: “The property is very well known in Sarzana and it’s the primary destination in the city for shopping and services, attracting people from all over the region, thanks to its position just outside the city centre”. This translates into a bargain for the new owners.

But the investments of Igd are not over yet. Always with the purpose of expansion, along with Centro Luna in Sarzana, the company has also bought the shopping centres Leonardo in Imola, Centro Lame in Bologna, and Centro La Favorita in Mantua. As in Centro Luna, also the other three shopping centres feature supermarkets from the brand Coop, able to grant high levels of turnover. Igd is one of the leading companies in Italy in mass retailing properties. The company develops and manages shopping centres all over the Italian territory and is also present in Romania.

The company is listed in the Star segment on the Italian Stock Exchange and has assets for 2 billion 210 million euro at the date of 30th June. In Italy, Igd has 25 shopping centres including hypermarkets and supermarkets, 22 shopping arcades and retail parks, a city centre and other properties. Moreover, the group has 14 shopping centres and an office building located in 13 Romanian cities.

It’s still not known whether Centro Luna will be extended or not. The old ownership was intending to double its spaces in 2011, but nothing has been done since then. According to the original project, the commercial arcade should have been extended from 3,500 to 7,000 Sq m, basically doubling the commercial space. The request was presented by Eurocommercial Properties Srl from Milan. The project included the doubling of the dimensions of the commercial arcade, the construction of two medium-sized commercial facilities of about 400 Sq m and of a warehouse for the handling of the products of the supermarket. New public spaces were also included in the plan with over 1,000 parking spaces. The project has been postponed since then till the recent acquisition.

Source: La Nazione

Translator: Cristina Ambrosi