AEW, acting on behalf of Actipierre Europe, has acquired three retail units located in the Bonaire retail park in Valencia, Spain. The assets comprise a total area of 4,584m² and are located on the ground floor, benefitting from façade exposure on the north side of the main entrance of the shopping centre next to Leroy Merlin. The units, which are visible from the A3 highway linking Valencia city centre to Madrid, are fully let to Maison du Monde and the restaurant El Reino Asador. The purchase price was not disclosed.
Bonaire, which is the biggest retail complex in the Valencia area and has a five-star BREEAM certification, is located 12km from the city centre and 2km from the airport. It offers a wide variety of shops and services, including a shopping centre comprising 169 shops, three hotels, a retail park with 11 units, more than 6,000 parking spaces, restaurants, a cinema and an outlet park. Valencia is Spain’s third-largest city, with the most important port in Spain, and benefits from a buoyant local economy.
Carsten Czarnetzki, AEW’s Head of Spain, commented: “This acquisition demonstrates our ability to deploy different capital sources and strategies in the Spanish market and further complements AEW’s existing footprint of retail warehouses with this dominant scheme in Valencia.”