ARTICLES LABELLED WITH TAG retail park

Immofinanz is continuing the expansion of its Stop Shop retail park brand, as announced, and has added eight locations to the portfolio shortly before the end of the year. Six fully rented retail parks in Serbia and the Czech Republic with roughly 43,000 sqm were purchased from Mitiska REIM, a Belgian investor specialised in these types of commercial properties. In addition, Immofinanz closed the purchase of a fully rented retail park (approx. 5,500 sqm) in Voitsberg, Austria, during the fourth quarter of 2020. The portfolio in Croatia will be increased by one property in the city of Ludbreg.

Dutch-Czech real estate investment company Fidurock has obtained a zoning decision for the construction of a new retail park in Piešťany, Western Slovakia. The company acquired the land plot back in July 2018.

The HopStop convenience retail park in Siedlce has been sold by Polish developer Katharsis Development to British investor LCP Properties. The seller was represented by Avison Young investment team throughout the transaction.

Expo Market Doraly, one of Romania’s largest shopping parks specialized in home items and food products, has inaugurated a new building with an area of 9,200 sqm, following a €6 million investment.

Austrian retail investor Supernova has acquired the Jupiter City shopping centre in the Romanian city of Pitești from local company Mall Retail Rom, owned by Israeli concern Jupiter Group. The value of the transaction hasn't been disclosed, but the transaction was said to be "distressed" with a price estimated to be below €20 million.

Fashion outlet developer, Fashion House Group has announced the opening of the third phase of Fashion House Outlet Centre Militari in Bucharest.

Mitiska REIM has secured a €33 million senior debt facility with Erste Group Bank AG for four Romanian retail parks, representing a combined gross leasable area (GLA) of 30,500 sqm.

A Hungarian real estate fund, advised by VLK Cresa, has acquired the Target Center retail park in Kecskemét, Southern Hungary. The name of the seller and buyer or the purchase price has not been disclosed.

Trei Real Estate GmbH and JLL jointly published a new market report on retail parks and convenience centres in Poland, according to which the segment has followed an upward trend for years, and not even the coronavirus pandemic has impacted its performance. One of the reasons for this is that the stores located here often stock food and everyday products. Moreover, the retail units generally have their own entrances and are directly accessible from the parking lot. Shoppers appreciate this aspect because it makes it easier for them to minimise exposure.

Trei Real Estate GmbH is about to open its 19th retail park under the Vendo Park brand in Poland. The retail property is located in Czestochowa in the Silesian Voivodeship in southern Poland. With a population of around 230,000 residents, it is the second-largest city in Silesia. It lies a car ride of roughly three hours south-west of Warsaw on the River Warta. The new Vendo Park, one of the largest retail parks in Trei’s portfolio, has a lettable area of around 8,200 square metres and a tenant base of 13 retailers. The amount that Trei invested in the asset approximates €11.9 million.