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Pillar Pays Euro 117M For Spanish Retail Park

LONDON- Pillar property has acquired its first retail and leisure park in Europe at Madrid, Spain. It paid Spanish developer Neinver euro 117 million ($126 million)

By Charlie Jacoby | Updated on February 10, 2003

LONDON-The Nassica Retail and Leisure Park at Getafe, just south of Madrid , now belongs to Pillar Property. Its first retail and leisure park in Europe, Pillar bought Nassica from Neinver, the Spanish development group, for €117 million ($1269 million).

Nassica comprises a total of 530,000 sf of retail and leisure space. The park contains a UGC Cine Cité 20-screen multiplex cinema, 45 retail, leisure and restaurant units and 2,500 parking spaces. Key tenants include PC City, Aki Bricolage, Menage del Hogar, Canas y Tapas, Moda en Casa and VIPS.

Adjacent to the Pillar park, Neinver will continue to operate its factory outlet totalling more than 248,000 sf. This space comprises 37 retail and restaurant units and a further 1,500 parking spaces.

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