News Article Avison Young investment ME invest Poland retail Rock Park TERG
by Property Forum | Investment

The retail park in Przeworsk (Rock Park), which had its grand opening at the beginning of February this year, is undergoing a change in ownership after just a month of operation. The seller is RockCapital, and the buyer is ME Invest, a company owned by TERG S.A., the owner of the Media Expert chain. The Avison Young investment team represented the seller in the transaction process. The price has not been disclosed.

Opened in February of this year, Rock Park in Przeworsk, located in the Podkarpackie voivodeship, represents another investment by RockCapital. The company, which is of Polish origin, specializes in the commercialization, construction, and sale of modern retail parks.

"The acquisition of Rock Park in Przeworsk marks a significant addition to our portfolio. We are actively investing in various projects across Poland, particularly in the retail segment. Our strategy focuses on acquiring prominent assets in their respective regions and commercialized them at the highest standards. This is why we have chosen to purchase the retail park in Przeworsk, which will soon be renamed Aura Park" comments Karol Bielecki, proxy of ME Invest.

Rock Park in Przeworsk, situated at the intersection of Dworcowa and Dynowska streets, stands as the main retail park in the region, catering to 44,000 residents. Anchored by Biedronka as the grocery operator, the facility boasts nearly 6,800 sqm of leasable space. Tenants are brands like Sinsay, CCC, Pepco, Dealz, Tedi, KIK, Kaes, Martes Sport, Media Expert, and Orange. Located just a 5-minute walk from the PKP Railway Station, Rock Park offers various amenities, including an electric car charging station, a sizable parking lot with 170 parking spaces, and an adjacent car wash.

"In line with our business model, RockCapital focuses on commercializing, constructing, and subsequently divesting Rock Parks, and the current transaction aligns seamlessly with our long-term operating strategy. We are delighted that our Park in Przeworsk has attracted a new owner in such a short period, which underscores the excellent work we have put into commercializing and preparing the entire facility", adds Michal Osadczuk, CEO at Rock Capital.

“Retail parks sector continues to represent a reliable and secure investment option",– comments Artur Czuba, Associate Director, Investment at Avison Young. "In 2023, retail parks and convenience schemes accounted for 56% of the total retail investment volume, attracting to Poland 2 new investors. This year, we expect this interest in retail parks to continue. Already in 2024, we have witnessed several retail park deals, with the dominant role of Avison Young as an investment advisor. Currently, the biggest challenge in the retail parks segment is to lock an outstanding quality project at a price that satisfies both parties”, he added.