AEW Europe SGP acquires Marques Avenue Outlet Centre for an institutional client (FR)

AEW Europe SGP has acquired, on behalf of one of its institutional clients, the Marques Avenue outlet center located in the French town of Romans-sur-Isère, near Valence in the Rhone Valley.

The seller was Retail Property Fund France Belgium (RPFFB) managed by CBRE Global Investors. The purchase price has not been disclosed.

Marques Avenue Romans-sur-Isère totalizes 17,000 m², divided into 72 retail units. The center was developed in 1999 and extended in 2005. The tenants are essentially national and international brands, including amongst others: Levi’s, Lancel, Geox and Pepe Jeans. These brands offer products at a minimum 30% discount.

AEW Europe is one of the leading managers of outlet centers in France managing a total of six centers comprising more than 84,000 m² of retail space and generating sales in excess of €274 million before tax. The outlet centers other than Romans-sur-Isère managed by AEW Europe are located in, Corbeil-Essonnes, Ile Saint-Denis, Talange, Franconville and in Gonesse.

CBRE Global Investors was advised by the Les Notaires du Quai Voltaire, White & Case and ICF Environnement.

Source: Bellier Financial

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