Credit: Castellana Properties
Ticker

Castellana Properties expands the commercial offer of Los Arcos and Bahía Sur with Espaço Casa in Spain

Los Arcos’ shop will occupy a gross leasable area of 1,250 sqm and Bahía Sur will have an area of 1,120 sqm. The opening is scheduled for March and April.

Castellana Properties has signed with the Portuguese retail company Espaço Casa the opening of two new shops, one in Los Arcos shopping centre (Seville) and the other one in Bahía Sur (Cádiz), which are scheduled to open in March and April. Los Arcos and Bahía Sur are strategic commercial locations in their respective areas and receive 13 million visits each year.

The Portuguese company, leader in retail sales and specialized in the commercialization of household goods, will occupy a total surface area of 2,370 sqm in both shopping centres. Specifically, Los Arcos’ shop will have 1,250 sqm and Bahía Sur will have an area of 1,120 sqm. These openings join the 29 new brands that have been opened or refurbished in these shopping centres over the last year.

These agreements reinforce the importance of Los Arcos and Bahía Sur for Castellana Properties, as well as the firm’s commitment to an active portfolio management.

The 39,569 sqm redevelopment plan for Los Arcos and Bahía Sur

These projects are part of the firm’s strategy to renovate and enlarge its assets, which has been underway since the end of 2019 after the acquisition of El Corte Inglés’ facilities in Los Arcos and Bahía Sur. Castellana Properties has invested more than €24 M for the refurbishment and remodeling of these centres. In this regard, it is worth highlighting the agreement with MediaMarkt for the opening in Los Arcos this February of its largest shop in Seville and the opening of the Yelmo premium cinemas in the Bahía Sur shopping centre last December.

Julio García, Chief Operating Officer of Castellana Properties, stated:

“We are delighted to announce the opening of these shops, which will improve the retail mix of Bahía Sur and Los Arcos, and it will also demonstrate the commitment to the physical shop in our country. The good footfall figures and sales that are being recorded in retail premises open to the public ratify the willingness of Spaniards to recover normal economic activity and once again reaffirms the potential of the retail sector and the physical shop”.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

BAML appoints new management team

Ballymore Asset Management Limited (BAML) has appointed Tony Hymers as Managing Director and Ross MacCaskill as Finance Director.

BIG Shopping Center raised 55 million euros at the Israeli stock exchange for further expansion in Serbia and the Balkans

The BIG Group intends to use the proceeds from this bond issue to continue its expansion in Serbia and in the Balkan region.

MAPIC 2021 back in Cannes and towards new retail mix

The international retail property market event will gather 8,200+ retail, property, food & leisure leaders from over 80 countries at the on-site event in the Palais des Festivals from November 30 to December 2, 2021.

CBRE becomes largest shopping center manager in Iberia

CBRE reaches the number of 50 shopping centers under management and leasing in 2021, amounting to 2.3 million sq m throughout the Iberian portfolio.

Newly umdasch shopfitted Julius Meinl on Vienna’s Graben reopened

After several months of renovation work, the traditional Viennese gourmet food store Julius Meinl on the prestigious Graben in Vienna presents itself in new light in the middle of the exclusive pedestrian zone.

AM Alpha acquires Nutgrove Retail Park in Dublin

The Munich-based family office AM alpha has completed a further transaction in Dublin this year with the acquisition of the Nutgrove Retail Park in a consistently strong trading location. This is the first major retail park trade in Dublin since 2018.