CBRE IM sells two retail assets in Sweden to Niam

CBRE IM sells two retail assets in Sweden to Niam

CBRE Investment Management, on behalf of a European shopping centre strategy, has sold two retail assets in Sweden to real estate investment firm Niam.

Port 73, a 35,000 sq m GLA hybrid shopping centre and retail park in Haninge southeast of Stockholm, Sweden, and Gallerian Nian, a 22,000 sq m GLA urban shopping centre in Gävle, a city 170 km north of Stockholm, are included in the deal.

Port 73 has a strong convenience offering with two supermarkets, a DIY and garden centre, as well as entertainment, F&B and fashion space. Gallerian Nian is located in Gävle’s city centre, and ranges over four floors offering a cinema, fashion space, around 4,000 sq m of offices, and 700 covered parking spaces.

Jenny Tuleby, CBRE IM’s Head of Transactions and Investment Operations for the Nordics said: “We are pleased to conclude this strategic sale on behalf of our clients. During our hold we have managed to improve layout, tenant mix and profile, and created a stable source of income. We see increasing demand for retail assets that are well-located and have a diverse and convenience anchored retail offering.”

Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!