Kanon: El Osito

CV-35 17A, La Pobla de Vallbona, Valencia, Valencia, 46185, ES

Retail Park with 20,332 m2 located in the northwest side of Valencia.
Excellent visibility and access through Ademuz highway, CV-35, just 10 minutes from Valencia’s city centre.
Direct catchment area of 105,000 inhabitants within a 10 minutes' drive and around 400,000 within a 15 minutes.
No direct competition within its primary catchment area.
Good tenant mix with Leroy Merlin, Casa, Jysk, Kiwoko, Maisons du Monde, FeuVert, Economy Cash

Asking Price

$34,372,000

Building area gross

218,863 sf

Occupancy

96.40%

Year built

2008

Tenure

Freehold

Cap Rate

5.96%

NOI

$2,050,000

Consolidated retail park opened in 2008 with a GLA of 20,322 sqm.
High occupancy rate (96.4%) and interest from top level occupiers to take the available area (742 m2)
Average sustainable rent of 7.6€/sqm/month with growth potential through annual indexation by CPI (no caps).
WAULT: c. 4-year. Mandatory period until 2028 for Leroy Merlin and Maisons du Monde recently signed.
Asset deal with 100% freehold
Possibility to acquire 100% of a consolidated retail park strategically located in a major spanish city