OBI, one of the leading home improvement chains in Europe, has extended its lease for over 10,000 sqm of retail and warehouse space at P3 Łódź I. This decision strengthens the company’s long-standing presence in the park, where it has operated since 2008.

Net lease real estate investment trust W.P. Carey has added seven DIY retail stores in Poland to its portfolio. The NYSE-listed company has bought the newly built assets totalling 70,000 sqm from private real estate firm Supernova Group for an undisclosed sum. The stores are triple-net leased to OBI for a term of 15 years with Eurozone CPI-based rent increases.

Nova Real Estate fund, managed by the fund management company Redside, has completed the acquisition of the home improvement supplies store  OBI in Frýdek Místek, from the seller, development company PTO. OBI is a German multinational retailing company founded in 1970. With more than 650 retail stores, OBI is the largest DIY retailer in Europe, and the third-largest in the world. This is the second property with OBI as a tenant in the Fund’s portfolio in the Czech Republic.