PORTFOLIO: IBERIA FUND I
Zubiarte (Bilbao)
Prime location shopping center in Bilbao
Zubiarte is a unique urban shopping center in Bilbao, one of the wealthiest cities in Spain. It benefits from a privileged location amongst major landmark buildings including the Guggenheim Museum, the Iberdrola office tower and the Deusto University. The shopping center has 20,647 sm of gross lettable area, 65 stores and a total of 757 parking spaces.
With this strategic acquisition in late 2015, ASG’s value-added strategy is to revitalize the center by bringing new retail anchors, as well as redesigning the current distribution and customer flow of the scheme.
ASG aims at utilizing the excellent qualities of the center and its urban location, in order to enhance the shopping and entertainment experience for the residents of Bilbao. As Bilbao is an economic and cultural reference in Spain, the repositioning of Zubiarte responds to the demands of this environment.