(BARCELONA, SPAIN) – Hines, the international real estate firm, has secured international sports brand Nike to create a premiere concept store at its Paseo de Gracia 17 development in Barcelona.
Expected to open next week, December 15, the new store will occupy the ground floor and basement levels of the Paseo de Gracia 17 building, as well as the mezzanine and a roof top area. The new store will be delivered and managed by Percassi Group, a leading international retail group founded by Antonio Percassi.
The Paseo de Gracia 17 site was formerly home to the headquarters of Banco Popular and has been comprehensively redeveloped by Hines to create over 32,000 square feet of prime retail space and over 53,000 square feet of Class A office space. Flexible office space provider WeWork occupies all 53,000 square feet of office space in the building, and opened in July this year.
Hines acquired the Paseo de Gracia 17 site on behalf of Baverische Versorgungskammer (BVK) in 2017, as part of Hines’s European mandate with BVK.
The development is located at the crossroads between Paseo de Gracia and Gran Via de les Corts Catalans, in the heart of Barcelona’s main business and tourist district, and home to the city’s major flagship retail stores.
Vanessa Gelado, Managing Director and country head for Spain at Hines, said: “We are excited to be working with Nike and Percassi Group to bring a flagship store to the Paseo de Gracia 17 building, which will serve as a unique new retail experience for the area. Our redevelopment of the site has successfully reinvented a prominent Barcelona building for the 2020s and underlines our expertise in creating mixed-use urban regeneration schemes in sensitive sites.”
CBRE acted on behalf of Hines.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 225 cities in 25 countries. Hines has approximately $144.1 billion¹ of assets under management, including $75.5 billion for which Hines serves as investment manager, including non-real estate assets, and $68.6 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,426 properties, totaling over 472 million square feet. The firm’s current property and asset management portfolio includes 576 properties, representing over 246 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. ¹AUM includes both the global Hines organization as well as RIA AUM.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 55 cities in 13 countries, with €22.7 billion of assets under management, including €19.8 billion for which Hines serves as an investment manager and €2.9 billion for which Hines provides third-party property-level services, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Visit www.hines.com for more information.