Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CANNES-Developer Assetalia and Hypermarket operator Groupo Eroski are to build a 100-acre retailer park outside Bilbao, Spain. As part of the agreement, Eroski will open a 168,000-sf hypermarket.

What will be northern Spain’s biggest shopping park will include a 320,000-sf two-level shopping mall, a 380,000-sf retail park, cinema and factory outlet elements and an 8,000-space car park. The joint venture developers hope it will be worth €350 million ($350 million) when it opens in 2005.

Assetalia chairman Paul Whight commented: ‘The scheme can be likened to the Metro Centre in Northern England, where a major shopping park managed to regenerate an area that had been devastated by the closure of coal, steel and shipbuilding industries.’

Developers expect a commercial permit for the scheme to be granted next month. They have appointed Jones Lang LaSalle as letting agent and Gabitat as project manager.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.