Castellana Properties Socimi S A : Alvaro Moreno chooses Granaita for its first retail park store

• At 924 square metres, Alvaro Moreno's new store in the Granaita retail park will be its largest in Spain.

• Granaita has already attracted a string of top-tier brands including KIK, Carl's Junior, La BOCA TE LIA, ZAPA 10, BED'S and Pepco and more. The retail park has become a star asset for Castellana Properties, with an occupancy rate at March 2023 of 98.6%.

• Castellana Properties continues to build on its strategic position in Andalusia, where it currently has six assets: Bahía Sur, Granaita, Los Arcos, Puerta Europa, Motril Retail Park and Marismas del Polvorín.

Castellana Properties, a listed company specialising in the retail sector, has announced that Alvaro Moreno will soon be opening a new store in the Granaita retail park in Pulianas, Granada. The fashion brand's first retail park store will also be its largest in Spain at 924 square metres.

This latest move further demonstrates Alvaro Moreno's confidence in the Castellana Properties portfolio. Previously, the brand chose the Bahía Sur shopping centre for what was at the time its largest store (600 sqm). Strong sales figures influenced the decision to pursue a larger store format across its network. Today, the brand is making the leap into retail parks, once again placing its trust in Castellana Properties. Meanwhile, its El Faro store has been extended by an additional 200 sqm - another sign of its enduring relationship with Castellana Properties and its shopping centres.

Alvaro Moreno is a leading men's fashion brand known for design, quality, pricing and values. Inspired by its founders' entrepreneurial upbringing, the company was launched in 2005 and now boasts multiple fashion lines for men and boys, including "Trajearte," a range of suits and accessories.

Alvaro Moreno's arrival in Granaita is a new milestone for the retail park, which has recently seen an influx of high-profile brands such as KIK, Carl's Jr, La Boca Te Lia, Zapa 10, BED'S, Lavandería Bloomest, Muebles Boom and Pepco. This demand has positioned Granaita as one of Castellana Properties' best-performing assets, with an occupancy rate of 98.6% at March 2023.

At 83,490 sqm, Granaita is one of Andalusia's largest retail parks and offers an extensive selection of entertainment and leisure options. Its attractions include Spain's largest bowling alley with 26 lanes, a Kinépolis cinema with 15 screens and 4,600 seats and Fórmula Karting Granada, occupying a site of 3,000 sqm. It recently launched "Los Planazos", a range of packages combining subscriptions to its leisure facilities with a wide range of restaurant deals.

The park has continued to perform strongly and attract new names, as shown by last year's data. A total of 28 leases were signed in 2022, comprising 25 new contracts and 3 renewals.

Julio García, Director of Operations at Castellana Properties, remarked, "we are delighted to announce that Alvaro Moreno is coming to Granaita. At Castellana Properties we remain deeply committed to the Granada area, particularly Granaita, which is one of our flagship retail parks. We believe that men's fashion remains one of the market's most solid performers. The arrival of Alvaro Moreno in Granaita is a significant boost for the retail park and a chance to reaffirm its role as a key driver of economic growth in the region."