Parque Corredor: From Historic Shopping Centre to a Leading Retail Destination

For three decades, Parque Corredor has been a meeting point and a key retail reference for the Corredor del Henares area, in eastern Madrid.

With more than 120,000 sqm, the shopping centre maintained a strong position within its catchment area. However, its retail offer, image and tenant mix had fallen behind the evolution of the sector and new consumer behaviours.

Increasing competition, the loss of key anchor tenants, fragmented ownership and an outdated image made a deep transformation necessary.

The challenge was clear: to reimagine a historic centre and transform it into a modern, sustainable and experience-driven destination with an attractive retail offering.

Since 2007, Cushman & Wakefield has supported the asset as property manager and leasing agent. In 2018, our involvement was key in facilitating Redevco’s entry as majority owner, simplifying the ownership structure from 27 to 7 stakeholders and enabling the launch of the major transformation project.

The refurbishment plan, carried out between 2019 and 2024, involved a comprehensive modernisation of the building and its parking facilities, with a total investment of €53 million.

Cushman & Wakefield, acting as property manager and leasing agent, led the transformation alongside Redevco, redefining the architecture, retail mix and overall visitor experience.

Key initiatives included:

• A new architectural design that is brighter, more efficient and more sustainable.
• Renovation of 98% of retail units, with more than 200 leasing transactions completed and the introduction of new anchors such as Zara, Ikea and MediaMarkt, alongside the refurbishment of key existing operators.
• A complete restructuring of the food & leisure area, introducing more than 20 new brands and including the opening of Cine Yelmo Premium and the Atoope leisure centre.
• Implementation of an intelligent energy management system and more accessible mobility solutions.
• Digitalisation of both the customer experience and the centre’s operational management.

"The transformation of Parque Corredor is the result of exceptional collaboration between teams and owners. This project demonstrates how active management and a shared vision can turn a traditional asset into a benchmark for the future."

- Rafael Mateu, Head of Asset Services & Retail Sector, Cushman & Wakefield Spain

The new Parque Corredor has consolidated its position as the leading retail destination in eastern Madrid and as a benchmark for sustainability and customer experience.

The results demonstrate the impact of this joint effort:

• Over 98% retail occupancy
• 89% increase in sales (2019–2024)
• 14% increase in brand event revenues (2019–2024)
• Transformation rated 9/10 by operators

In 2025, the centre received the AECC Award for Best Major Transformation of a Shopping Centre, reinforcing its position as a success story within the retail sector.