CBRE Nabs Italian Shopping Center for $68M
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Mongolfiera Shopping Center, Lecce, Italy
Lecce, Italy—CBRE Global Investors, has announced the purchase of Mongolfiera, a shopping center in Lecce, Italy, on behalf of a pan European retail strategy. The property traded for $68.3 million (EUR 61.8 million) and was sold by London-based asset manager Schroders.
The property opened in 1994, and includes a hypermarket and gallery. The shopping center was extended in 2006, and upgrades have been made to include a food court area and more retail space. CBRE purchased 122,331 square feet, which include the hypermarket. The single-floor building is anchored by Ipercoop, which was not included in this transaction, MediaWorld, H&M and Piazza Italia. At the time of the deal, the center was 100 percent occupied by 48 tenants…
