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.
Pepijn Morshuis, CEO of Trei Real Estate, commented on the opening: “The retail park in Czestochowa is one of our largest retail real estate investments in Poland, and represents our preferred format for retail parks. Due to its size, it offers a broad-based product spectrum that is based on the actual needs of the local population and therefore meets regional demand. It is already the fourth Vendo Park we managed to open in Poland this year. Another three will follow before the end of the year.”
In addition to its retail units, the new Vendo Park provides 160 parking spots. The property is almost fully occupied. Its 13 tenants include Kik, TEDi (both textiles and interior decoration), Maxi Zoo (pet supplies), Dealz (discount store), Rossmann (drugstore) and Pepco (textiles and interior decoration), among others. In addition to the Vendo Park, Trei created an access road that includes a walkway and cycle lane, and constructed another building for discount grocer Lidl that occupies 1,960 square metres of the gross lettable area on the plot of land which covers a total area of 22,900 square metres.
Overall, Trei currently holds 29 Vendo Parks in its portfolio, of which 19 are located in Poland now. The next retail parks, located in Zielonka, Lukow and Wladyslawowo, are yet to open this year. The long-term objective is to have completed 50 assets or more within the next three years.
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