Bouwinvest Retail Fund sells Makado shopping centre in Purmerend
The Bouwinvest Dutch Institutional Retail Fund has sold the Makado shopping centre (approx 6,300 sq. m.) in Purmerend. The sale was prompted by the fact that the shopping centre no longer matches the Retail Fund’s strategic vision that now focuses on the Netherlands’ largest shopping cities and busiest high streets, emphasising experience and convenience.
The shopping centre is located at John F. Kennedyplein in the Wheermolen district. In addition to DEEN supermarket, Big Bazar, Pearle and TerStal are also based in the centre. However, around 1,200 sq. m. have become vacant in recent years, partly as a result of the departure of Dekamarkt supermarket.
The vendor, Bouwinvest, was assisted in this transaction by CBRE.
“The shopping centre has a good supermarket as its base and development potential for partial transformation into residential functions, for example. However, for our client Bouwinvest’s Retail Fund, even after transformation, this type of property no longer matches its investment strategy, which is what prompted the sale. There is a strong market for this type of product in view of the investment opportunities.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.