Arcano Buys C&A Store In Madrid From Redevco For €12M

26 October 2017 – Eje Prime

Arcano’s real estate arm is continuing to grow. In its fight to become one of the leading players in the Spanish real estate business, the company has recently purchased a retail store in the centre of Madrid from Redevco for €12 million, according to sources at the group.

The establishment, which is currently occupied by the international fashion retail group C&A, has a retail surface area of more than 3,400 m2. The asset is located at number 202 on Calle Bravo Murillo. According to sources in the sector, the operation has been brokered by the real estate consultancy CBRE. The property will be added to the group’s portfolio of assets, which comprises buildings in Madrid, Barcelona, Costa del Sol and Portugal.

Until now, the asset was owned by Redevco, a company specialising in the investment and management of commercial properties. The group manages a portfolio of more than 400 assets located in the main commercial areas of Germany, Austria, Belgium, Spain, France, Hungary, Luxembourg, The Netherlands, Portugal, United Kingdom and Switzerland (…).

Arcano, which recently moved its Madrid offices to number 29 Calle Ortega y Gasset, was founded in 2003 and employs almost 140 people with offices in Barcelona, Madrid and New York. Since its creation, Arcano has become one of the leading independent firms in the Spanish financial sector (…).

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake

Victoria’s Secret & Armani To Open Stores In Plaza Río 2 Shopping Centre

16 October 2017 – Expansión

On Thursday 20 October, the luxury Italian brand Armani is going to open a new store in Madrid. However, the new establishment is not going to be located on one of the capital’s high-end streets, such as Serrano or Ortega y Gasset, but rather in a shopping centre: the new Plaza Río 2.

Located on the banks of the River Manzanares, the Plaza Río 2 shopping centre is the latest project from the French real estate giant La Société Générale Inmobilière (LSGI). With a total investment of almost €200 million, the company has managed to secure tenants for the entire retail space, which measures 38,931m2, out of a total surface area of 127,873 m2.

The new tenants include household name brands, including several belonging to the Inditex group, such as Massimo Dutti and Zara Home, as well as new faces in the shopping centre business in Spain.

Such is the case of the aforementioned Armani group, which will open an Armani Exchange store for the first time in Spain; Armani Exchange is the Italian group’s brand that targets a younger audience.

Meanwhile, the underwear firm Victoria’s Secret, famous for its annual catwalk show with supermodels, will also make its debut in a shopping centre in Madrid with a store in Plaza Río 2.

Until now, the firm, owned by the US group L Brands, has had a presence in two shopping centres in Barcelona, as well as in the airports of Málaga, El Prat and Adolfo Suárez Madrid-Barajas, in the cosmetics and accessories format. Just a few days ago, it opened its first high-street store in the Spanish capital, in premises measuring 150m2 on Calle Fuencarral, which will be joined by its new establishment in Plaza Río 2 next week.

Another first in the new shopping centre will be the H&M Home line. The Swedish firm has reserved a surface area of 3,000 m2, spread over three floors, where it will open a store that will offer its H&M Home household collection for the first time in the centre of Madrid.

Plaza Río 2 is the eighth shopping centre that LGSI has opened in Spain. Through its subsidiary LSGIE, the company has promoted well-known establishments such as Madrid 2 La Vaguada, one of the first shopping centres that ever opened in Spain. In addition to this latest new opening, the group plans to renovate and expand its different assets in the Spanish market, according to sources at LSGIE.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

Decathlon Opens 3 New Stores In Central Madrid

5 September 2017 – Expansión

The French multinational sports equipment retailer Decathlon is raising its profile in the centre of Madrid by opening new large format stores in three of the Spanish capital’s main commercial thoroughfares.

Specifically, Decathlon is going to open one store at number 63 on Calle Princesa. The premises, which are owned by a family office, comprise two retail floors and a basement, with a total surface area of 1,700 m2. The operation has been advised by JLL. Similarly, the company is going to open a store with a surface area of 2,400 m2 in the Mercado de Fuencarral building, located at number 45 on the central Madrilenian street.

The Mercado de Fuencarral, which has been closed since 2015, comprises three floors and has undergone a complete renovation to be leased to a single tenant. The property is now owed by the real estate manager AEW, after it purchased the building this summer from Activum SG Capital Management (ASG) for €50 million.

Similarly, the sportswear firm will soon open a store at numbers 22 and 24 on Calle Ortega y Gasset spanning 2,600 m2.

Decathlon, which made its debut in Spain in 1992 with the opening of a shop in Badalona, currently has 158 stores across the country and six logistics centres, two of which are continental supply points.

In this way, Spain is the multinational’s third largest market by number of stores behind France (305) and China (222). As part of its strategy to bring stores closer to city centres, the French group has opened 37 Decathlon City stores in Spain over the last few years.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake

Vastned Buys Its Sixth Retail Store In Madrid For c. €10M

21 December 2016 – Expansión

The Dutch group Vastned is continuing to expand its real estate portfolio in Spain. The company has just acquired its sixth retail outlet in Madrid for around €10 million. The property, which has a surface area of 600 m2, is located at number 37 on Calle Fuencarral and is leased to the sports clothing and equipment brand Décimas.

Following this operation, Vastned now owns three stores on Calle Fuencarral; it already owned number 23 and 25 on the Madrilenian street. “Fuencarral is one of the most sought-after retail areas for operators, investors and domestic brands looking to expand their businesses due to its high footfall. As a result, store rents and prices per m2 in the area are on the rise”, explained Enric Vial, CEO at Retail Prime Locations, which advised Vastned in the operation.

Vastned owns another store on Calle del Carmen, next to Calle Preciados (the most expensive retail street in Madrid), as well as on Calle Serrano 36, which is leased to the luxury firm Ferragamo. In November, it purchased another store, located on Calle Ortega y Gasset, for €16 million, which is leased to the luxury shoe designer Jimmy Choo.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake