By the end of 2016, Zara will open a new store in the popular Waasland Shopping Center in Sint-Niklaas.
Waasland Shopping Center in Sint-Niklaas is a well-established mall and is one of the most popular shopping centers in Belgium. To date, Massimo Dutti was the only brand from the Inditex Group (to which Zara belongs) present in the shopping center.
AEW Europe, a leading European real estate investment and asset manager, acquired the Waasland Shopping Center in July 2015 as part of a large European investment transaction. The portfolio of nine shopping centers, to which Wijenegem Shopping Center was also a part, was acquired in the name and on behalf of an institutional client. As the new owner of the Waasland Shopping Center, AEW is very pleased to welcome the latest concept of Zara in its shopping center of Sint-Niklaas. This transaction provides evidence of the importance of the Waasland Shopping Center as a regional attraction.
Zara will occupy a total retail area of 2,800m² located in the heart of the Waasland Shopping Center. The women, men and kids-departments, all under the new concept, total 2,000m² of floor space, with each department accessible from separate entrances in the mall.
This transaction was carried out in confidentiality by all of the parties involved. The lease to Zara is one of the most important retail leasing transactions in an existing Belgian shopping center in 2016. In total, 3,500 m² of floor space was remodelled, and eleven retailers, including Hans Anders, Mobistar, Eetcafé Retro and The Body Shop, will open new units in the mall. If the fit-out works progress as scheduled, Zara should open its doors on the 15th of November.
CBRE, in collaboration with the asset manager Devimo, carried out this mission from A to Z. CBRE and Cushman & Wakefield have been co-exclusively assigned for the commercialisation of the Waasland Shopping Center.
