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Mercadona signs at Pradera's Parc Vallès

Pradera has secured the number one supermarket chain in Spain as the anchor tenant at its Parc Vallès Entertainment Centre in Barcelona. Mercardona will be relocating from its current site to a brand new 2,910 sq.m unit at Parc Vallès. The fund and asset manager Pradera, has agreed a 25 year lease with the largest Spanish supermarket chain, which holds a national market share of 20%.

The deal is a landmark signing for Pradera, as the agreement is set to increase footfall to the park as over 60% of the local population use Mercadona as their primary supermarket. The deal will also benefit complimentary tenants on site.

Parc Vallès Entertainment Centre currently comprises 51 units including a 24-screen multiplex cinema, bowling alley, karting track and Virgin Active gym, as well as a wide selection of bars and restaurants.

Jaime Maynau Iceta, Head of Asset Management for Pradera in Spain, comments: "The receipt of a new retail license from the regional government has allowed us to incorporate additional retail occupiers to open at the park, specifically the integration of an anchor tenant, adding to the retail-leisure mix at the Barcelona site".

"Mercadona will be a valuable asset to Parc Vallès raising the profile of the park by attracting a wider demographic and increasing footfall and dwell time, benefiting the entire tenant mix. In addition, the whole park will also benefit from improved car parking facilities."

"The signing of such a large unit is also an indication of an improving Spanish retail market and decreasing vacancy rates. We hope the deal will be a catalyst for Pradera's expanding operations in Barcelona and further afield."

Source: Property Magazine International, December 2013

Property Magazine International

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Read whole story

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Ragusa: Ibleo Shopping Centre