Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, February 8, with Winston Norman, Editor and Chief of EuropaProperty.com.
Victoria’s Secret set to open first store in Prague
Dozens of leading American brands have established themselves in the Czech market over the past decade. In May the Czech market will see the highly anticipated arrival of the popular lingerie retailer Victoria’s Secret.
Victoria’s Secret is a brand that has long been in high demand but missing in the Czech market. It is America’s largest lingerie retailer, with more than 1,000 stores worldwide. Until now, its products could only be bought here in the transit area of Václav Havel Airport. The company’s first real Czech store is to open in Prague’s Westfield Chodov shopping centre in May this year.
Jan Kotrbáček, Partner & Head of the CEE Retail Agency team, Cushman & Wakefield, said: “Victoria’s Secret is a hugely successful brand all around the world for a whole range of reasons. The brand is driven by inspiring store design and strong product storytelling, reinforced by world-famous fashion shows which are some of the most followed and shared events on social media. Its stores attract very high foot traffic, are highly “instagrammable”, and generate a lot of attention. This makes them the type of sought-after tenants that shopping centres want to have in their mix to cater to all the customers who crave the brand.”
Cushman & Wakefield takes over management of Atrium Flora
Cushman & Wakefield has taken over the management of Atrium Flora in Prague, a shopping centre owned by G City Europe.
The 20,000 sqm shopping centre is part of a mixed-use project that also includes extensive and modern office space of 18,000 sqm. Last year saw a major refurbishment of the interior of the entire shopping centre, including a generous extension of the food court. This year, the overall renovation should be completed with the replacement of signage and digital displays with new ones.
Martin Šimek, Partner and Head of Retail Asset Services, Cushman & Wakefield, said: “Atrium Flora is a great project in the very centre of the city, a place to answer its customers‘ everyday shopping and meeting needs.”
Panattoni Danfoss BTO development reaches finals of the MIPIM awards
Panattoni’s Danfoss BTO development in Grodzisk Mazowiecki, Poland is one of the four finalists for the Best Industrial & Logistics Project Award at MIPIM.
The Panattoni Danfoss BTO project is one of two developments from Poland to have reached the finals at MIPIM with Capital Park’s Norblin factory project also among the four finalists for the ‘Best Urban Regeneration Project’.
“Our development for Danfoss shows the direction of the entire industrial sector as it moves towards energy efficiency and zero emissions. Finding ourselves among the top four in our award category at such a prestigious competition demonstrates the huge progress Panattoni has made in sustainable construction as well as the expanding possibilities of built-to-suit development,” says Marek Foryński, the BTS Managing Director at Panattoni.
Lincoln announces growth and succession plan
Lincoln Property Company Commercial announced a growth and succession plan that includes the appointment of a new generation of executive leadership and a major investment by funds managed by Stone Point Capital.
The strategic investment by Stone Point Capital will enable Lincoln to accelerate its national and international expansion and offer more services to tenants, investors, lenders, and owners of commercial real estate.
Troy Javaher, Managing Partner and Head of Europe/UK at Lincoln Property Company, said: “This exceptional partnership with Stone Point Capital will enable us to significantly accelerate our strategic consolidation and expansion both in Europe and the United Kingdom, where we already have over €2 billion in development across multiple sectors.”