Nuveen Real Estate intends to undertake an ambitious improvement plan for the shopping centre after recently acquiring the terrace floor.
The Nervión Plaza, which occupies a total area of 27,000sq m is set to undergo an ambitious period of renovation which will include the introduction of 13 new restaurants, a supermarket and the reorganisation of the cinema into 19 theatres.
Marta Cladera de Codina, Managing Director for Iberia at Nuveen Real Estate, commented: “Clearly retail is evolving as a result of the pandemic, which leads to being more selective with opportunities. The portfolio of retail of Nuveen RE in Iberia is particularly resilient and this acquisition confirms that we must continue to invest in those opportunities that make sense for our portfolio and our long-term strategy.”
The project will be completed throughout 2021 and intends to bring a more rounded experience for customers.
