Portuguese retail specialist Sonae Sierra has reached a property management service agreement for Le Isole shopping centre, located in Gravellona Toce, Italy.

Sonae Sierra will provide property management services to the centre that comprises 26,000 m2 of gross leasable area and includes 55 shops.

Inaugurated in 2006, Le Isole is owned by LaSalle Investment Management. Sonae Sierra aims at further improving the tenant mix of the shopping centre, which is located in a strategic position, very close to A-26 motorway and about 40 kilometres from Switzerland.

'As an international shopping centre specialist, we are further strengthening our presence in Italy also as knowledge provider to third parties,' said Fernando Guedes Oliveira, CEO of Sonae Sierra.

'We think that Le Isole has a great potential of growth thanks to its position, its valuable tenant mix and its consolidated presence on the territory,' added Francesco Coviello, European Director of LaSalle IM.