IRSA and Carrefour announced the operation by which the main shopping center operator in the country acquired the “Terrazas de Mayo” shopping center for which it paid US$27,750,000.
This shopping center operates next to the hypermarket owned by the French chain on Avenida Presidente Arturo Umberto Illia 3770, Malvinas Argentinas match.
Given that Carrefour will retain ownership of the hypermarket, this operation It is the third cooperation between the two companies: in the shopping Alcorta and Soleil Carrefour stores operate.
In all three cases, both groups They are co-owners of the properties in which the commercial complexes of which they are part are located.
“The operation is aligned with our current business strategy, concentrating resources on continuing to strengthen our leadership in retail,” said Candela Arias, Co-Executive Director of Carrefour Argentina.
“The transaction will allow us to strengthen the administration of the more than 100 shopping galleries that we manage around our branches. In this way we will continue to enhance the ecosystem of products and services that complement the purchasing experience of our customers,” he added.
For his part, Eduardo Elsztain, president of IRSA, stated that the operation “consolidates us as the main shopping operator in Argentina. It is our 16th shopping center, one of them managed by a third party and it is among the five largest in our company.”
The businessman added that “with Terrazas de Mayo we added about 33,720 square meters of GLA (gross leasable area) and more than 90 stores and 20 gondolas to our portfolio in an area of the GBA that is rapidly growing.”
The shopping center also has 10 state-of-the-art movie theaters and spaces to add new tenants.
Néstor Sist, Co-Executive Director of Carrefour Argentina added that they will focus “on the expansion of retail throughout the country. For that, We have announced an investment of US$300 million destined for the opening of 100 new Maxi and Express stores, the formats most chosen by our customers.”
Terrazas de Mayo (close to the neighborhoods of San Miguel and Bella Vista, and the Campo de Mayo military facility) is located at the intersection of Routes 8 and 202. Receive about 7 million visitors per yeara number that IRSA aims to increase. For the 14 shopping malls that the group operates today around 110 million visitors pass by per year.
Source: Ambito
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