AEW acquires retail park in Granada 

AEW has acquired a 26,677 sq m urban retail park asset in Granada, Spain, in an off‑market transaction completed on behalf of an existing fund for French retail clients. 

©Granaita

The deal provides the fund with exposure to a well‑established retail destination in one of southern Spain’s key metropolitan areas.

The asset sits within Granaita Retail Park, a major shopping destination offering around 105,000 sq m of retail space anchored by leading operators including Carrefour, Decathlon, Kiabi, Kinepolis, Brico Depôt, Action and Mercadona.

The acquired component comprises five buildings across two main areas: an 18,657 sq m retail zone with 10 units occupied by food and fashion retailers, and an 8,020 sq m mixed‑use gallery with 16 units including leisure and fitness operators. The scheme is nearly fully let and benefits from more than 2,200 parking spaces.

Strategically positioned on Granada’s northern edge, the asset offers direct access to the GR‑30 ring road and sits adjacent to the A‑92, connecting the city with surrounding towns and major centres such as Seville and Malaga. Granada’s status as a major metropolitan, tourism and university hub supports a broad consumer base, further strengthened by ongoing residential development in nearby districts including Borde Norte, where around 1,000 homes have been delivered or are under construction.

The gallery area has achieved BREEAM In‑Use Excellent certification. AEW plans further environmental upgrades, including solar panel installation, additional EV charging points, rainwater harvesting and sustainable landscaping.

Carsten Czarnetzki, country head Iberia at AEW, said: “This acquisition represents an opportunity to invest in a dominant and well‑established retail destination in one of southern Spain’s key metropolitan markets. Granaita benefits from a strong retail offer, excellent connectivity and a broad catchment that continues to expand through new residential development. AEW’s established presence in Spain enables us to identify and pursue attractive opportunities such as this, including off‑market transactions.”

Antoine Barbier, head of AEW Patrimoine, added: “This acquisition aligns with our fund’s strategy of investing in high‑quality retail assets across Europe. The fund aims to build a portfolio characterised by high occupancy, a diversified tenant base and a complementary mix of retail and leisure offerings. Planned improvements will enhance the asset’s environmental performance and support long‑term value for our clients.”