Plaza Norte 2

Plaza Norte 2 is Klépierre’s northern Madrid metro asset and the largest shopping centre serving the M-40 ring road’s northern arc. The 103,000-sqm super-regional centre opened in 2002 in San Sebastián de los Reyes, a Madrid metro municipality of 89,000 residents along the A-1 corridor toward Burgos and the Cantabrian coast. The “2” in the centre’s name distinguishes it from the older Plaza Norte 1 directly adjacent, which Klépierre acquired in tandem and operates as a complementary smaller-format property.

The catchment is structured by Madrid’s northern suburban arc, capturing a band of municipalities (San Sebastián de los Reyes, Alcobendas, Tres Cantos) that concentrate higher-income households than the southern Madrid metro suburbs. Average household disposable income in the primary catchment runs roughly 25 percent above the national figure, with retail demand profile sitting closer to Madrid’s central premium offer than typical suburban regional benchmarks. Klépierre’s tenant strategy at Plaza Norte 2 reflects this positioning: the discretionary mix runs deeper than at La Gavia, with a curated specialty cluster occupying the upper level.

Tenant composition combines mass-market depth (Eroski, H&M, Primark, Inditex group) with premium-positioned specialty brands typical of central Madrid retail rather than suburban alternatives. The Cinesa multiplex extends entertainment dwell; a 28-restaurant food court of premium-mass and lifestyle dining tenants generates evening footfall that few Madrid suburban centres match outside Westfield Parquesur. Decathlon and FNAC handle the volume specialty segment.

For Klépierre, Plaza Norte 2 provides Madrid metro coverage in the operator’s most affluent Spanish catchment. Combined with Plenilunio (eastern), La Gavia (southeastern), and Islazul (southwestern), the four-asset cluster gives Klépierre comprehensive Madrid metro exposure across the demographic spectrum.