Immofinanz has opened two further retail parks in its Stop Shop brand. The Stop Shop portfolio has now grown to 72 locations with roughly 500,000 sqm of rentable space in eight countries. The new properties are located in the Serbian cities of Požarevac (7,200 sqm) and Vršac (8,250 sqm). Both locations are 100% rented. The tenants include, among others, LC Waikiki, Reserved, Sinsay, CCC, Deichmann and DM.
“After we increased the number of Stop Shop locations from 58 to 70 in 2017, the growth course is continuing rapidly. Our goal is to grow to roughly 100 locations over the coming years. That makes us the leading retail park operator in the CEE region,” said Dietmar Reindl, COO of Immofinanz.
The 72 Stop Shops are located in Austria, Slovakia, Hungary, Czech Republic, Poland, Slovenia, Serbia and Romania. The occupancy rate equalled 97.9% at the end of December 2017. Following market entry in Serbia during 2015, Immofinanz now operates six Stop Shops in that country. A further location in Sremska Mitrovica is scheduled to open in 2019, and other projects are currently in preparation.
Stop Shops are the Immofinanz brand for retail parks, which are characterised by a standardised format and an attractive tenant mix. They are located primarily in catchment areas with 30,000 to 150,000 residents and generally have 8,000 sqm to 15,000 sqm of rentable space.