AEW announces the off-market acquisition of a prime retail asset on Passeig de Gracia 89, directly opposite the iconic La Pedrera (Casa Mila), in the heart of Barcelona’s main luxury shopping district, on behalf of AEW Europe City Retail Fund (the “Fund”) from a private vendor.
The property, which has a total GLA of over 560-sqm spread over three floors, is fully let to Italian luxury clothing company Loro Piana, part of the LVMH Group, and has a long WALT of 13 years.
Located at the corner of Carrera Provenza and Passeig de Garcia in the north of the Eixample district, the property, which has a large frontage, benefits from excellent visibility. Additionally, Passeig de Garcia is renowned for being one of the most important luxury high streets in the world where global luxury retail brands, including Hermes, Fendi, Louis Vuitton and Prada are based.
Source : AEW