Cushman & Wakefield facilitated the sale of the M2 Shopping Center in Maasmechelen, Belgium, to Prime Development for its client LSGIB. This significant transaction is the largest out-of-town retail transaction of 2024 thus far and underscores the continued robust appetite for core-plus and value-added retail assets among investors.
The M2 Shopping Center, a historic retail destination, encompasses a land plot of over 80,000m2, with a GLA of ca 24,500m2. Strategically situated just adjacent to the city centre, the shopping centre boasts an impressive mix of more than 30 local and international tenants with a strong potential for future development. Next to the shopping centre, M2 offers a range of out-of-town retail shops, creating an interesting commercial mix.
M2 Maasmechelen is perfectly positioned within an attractive retail area and is in close proximity to key points of interest such as the Leisure Valley, Terhills, and the renowned Maasmechelen Outlet Village. This strong location enhances its appeal to shoppers today and in the future.
Victoria Tanret, Partner, Head of Capital Markets Retail said: “This transaction highlights the growing interest in retail properties that offer both stability and opportunities for value enhancement. With its strategic location, strong tenant mix and potential for further development, M2 Maasmechelen stands as a testament to the enduring strength of well-positioned retail assets in today’s market.”
Image source - Cushman & Wakefield.
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