Global real estate investment manager AEW has acquired a prime retail asset in the centre of Cannes, France. Financial details were not disclosed. The asset was acquired on behalf of Fondis, its fund focused on acquiring and managing retail assets across France.
The 375 m2 asset is situated on rue d'Antibes, the main shopping area in Cannes city centre with more than 200 stores. This lively area attracts significant footfall, supported by a number of restaurants in the adjacent streets, and is located close to the Boulevard de la Croisette and only 650 metres from the train station.
The 4-storey building was renovated in 2016 and is leased to luxury clothing company Twinset, a major Italian prêt-à-porter brand with a 10-year commercial lease which was renewed in 2022. Many high-end fashion brands have recently established themselves in this area.
Source: https://propertyeu.info/Nieuws/AEW-shops-for-prime-retail-asset-in-Cannes/ebe4eb6f-f64a-429b-ade8-45b24a3ef7f4, on 25 May 2023