Shopping center

The Cordoba JDJ Group buys the MYO shopping center in Gandía and will expand its space

The Córdoba investment group JDJ, through the real estate asset manager Batex/Duplex formed by the commercial project manager Batex and the architecture and engineering studio Duplex ARQ Factory, became the new owner of the commercial park MYO Gandía in this Valencian city.

The retail park was inaugurated in 2008 and was promoted by the company 3C Developmente, which estimated the investment for its development at 52 million euros. The asset has a land area of ​​32,680 square meters and a gross leasable area of ​​12,200 square meters.

As explained by the real estate consultant BNP Paribas Real Estate who advised the sale, the transfer was completed with close to 100% occupancy of the retail space. Companies such as Decathlon, Jysk, Kiwoko, Visionlab or Norauto are located in the shopping center

Additionally, the park has a remaining buildable area in which the new owner intends to develop a new project that will add value to the park.

Evolution of the sector

According to the consultant, the retail sector is one of the hardest hit by the pandemic, it managed to close the year with an investment of 1,320 million and, at this point, the retail parks are positioned as the favorite assets of investors as they suffer less grade the pandemic.

BNP Paribas Real Estate emphasizes that their income, which is much more sustainable than other assets, or the presence of agri-food companies or activities that have not experienced too severe restrictions, are factors that have led investors to set their positions in these assets.

According to the outlook of the real estate consultancy, in 2022 this investor appetite for retail parks will remain latent as they position themselves as much safer values ​​when choosing where to invest, especially in these troubled times where doubts about retail are rising. multiply. due to constant changes.

The real estate consultant continues to consolidate its activity in the Valencian Community in 2021, where it has participated in the advice of 46 operations.