On Thursday, March 6, the students of the Master's Degree in Real Estate of the postgraduate program of the University of Navarra in Madrid visited the Xanadú shopping center, guided by Eduardo Piñeroan analyst and advisor at the real estate agency Cushman & Wakefield.
Frans Goldszmidt Fischman, student of the Double Master's Degree in Architecture and Real Estate, shares her experience:
"The students of the Master's Degree in Real Estate visited the Xanadu shopping center, located in Arroyomolinos, in the south of Madrid. The visit was position by Eduardo Piñero, Senior Analyst Valuation & Advisory at Cushman & Wakefield, who, together with his team, carried out a detailed analysis of the asset from the perspective of RICS valuations, income, expenses and the calculation of NOI (Net Operating Income), in order to make an approach to the evaluation of the asset in the context of Real Estate.
Xanadú has a surface area of approximately 120,000 square meters and a catchment area that covers the entire Community of Madrid, especially in the municipalities of Leganés, Alcorcón, Getafe and Arroyomolinos.
The shopping center is distinguished by its wide range of leisure activities, including a snow slope, a cinema and a varied gastronomic offer.
During the visit, macro and microeconomic issues were addressed, such as the center's revenue composition (fixed rents, mall income, variable rental, marketing and parking) and the main operating expenses, such as cleaning, maintenance, security, water and electricity consumption.
The tour made it possible to identify two well-defined zones within the center: one dedicated to restaurants and the other to fashion and services. Among its main anchors are the cinema and the aquarium, which attract a large number of visitors. In addition, the importance of the tenant mix in improving revenues and the evolution of the commercial offer towards a more premium image, with open glass facades and a constant renewal of the image of the brands, was highlighted.
Finally, possible future plans for the center were discussed. The visit provided a comprehensive overview of the operation and the potential of Xanadu, highlighting its positioning as a core topic destination for both shopping and leisure in Madrid".
Text written by: Frans Goldszmidt Fischman, student of the Double Master's Degree in Architecture and Real Estate.
