CBRE ADVISED CBRE GLOBAL INVESTORS IN THE ACQUISITION OF GRAN SHOPPING MONGOLFIERA IN MOLFETTA, BARI
The Retail Investment Properties Team of CBRE Italy, led by Silvia Gandellini, has advised CBRE Global Investors in the acquisition - on behalf of CBRE European Shopping Centre Fund II (ESCF II) - of Gran Shopping Mongolfiera in Molfetta (Bari) from Income Return Partners (a fund sponsored by Orion Capital Managers) and HB Capital. The Building Consultancy team, led by Federica Saccani, advised on technical side providing the due diligence.
Gran Shopping Mongolfiera, consisting of ca. 35,000 sqm, was inaugurated in October 2008 in an area that now has a catchment of over 250,000 inhabitants; it comprises 103 retail units with an extensive and well balanced merchandising mix and is fully let to international tenants that include Zara, MediaWorld, Mc Donald's, Bershka, Stradivarius, Pull&Bear, Oysho. The layout is developed over a single level with a modern and appealing design and a functional structure, characterized by full height shop windows that help the circulation and make the visibility of the signages very clear.
Gran Shopping Mongolfiera is the most important commercial destination of the area, it is located on the axis that connects the city of Bari - the second economic center of southern Italy after Naples - to Barletta and Foggia, two very important cities of the region. It has 2,500 parking spaces and in 2016 attracted 5.3 million visitors.