Prime Retail Rents On The Rise In Spain, Says CBRE
Rent at prime retail units in Spain increased between 5 and 10% in 2015, according to a report by real estate firm CBRE.
As reported by moda.es, the main causes of this hike have been an improvement in consumption and a growing interest by brands to expand in the country. This is the first time prime retail space rents have seen growth in the country since the recession.
Álex Barabany, Commercial Director of CBRE in Spain explained that there is a growing demand on behalf of distribution chains for larger formats.
In the case of shopping centres, the report says that the format saw a growth in sales of 5.5% as well as an increased spend per customer from €10.50 in 2010 to €11.70 in 2015.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.