Genesis Property delivering retail projects in 8 Polish cities

Pińczów, Łęczna, Żagań, Brzeziny, Ropczyce, Poznań, Łódź and Morąg are the cities where Genesis Property is preparing retail properties. Their commissioning is planned over the next 24 months. Among the tenants who signed lease agreements in the projects under preparation, are such recognized brands as Pepco, Dealz and Rossmann, as well as a large group of local entrepreneurs. In total, the new projects will provide over 44,000 sqm (GLA) to the Polish market. At the same time, the company is working on further locations and is conducting advanced talks regarding the lease of other retail premises.

“The Polish retail real estate sector is evolving. Currently, retail properties are being developed in smaller cities, which means that the format and set of tenants must be adapted accordingly. In smaller cities, in small retail facilities, restaurants of recognised chain brands often play the role of anchors generating traffic, or facilities are built near free-standing commercial pavilions, if they are not part of the investment, or right next to gas stations. Such facilities provide an offer that has so far been available only in larger urban centres, which required residents to devote additional time and money to make the necessary purchases,” says Juliusz Wawrzyniak, President of Genesis Property. “In the case of large cities, we see the need to densify the network of retail facilities in specific locations. Many suburban areas lack modern retail, forcing residents to make time-consuming journeys. Also in this case, the key is to match the format and the right tenant mix, which is prepared based on a careful analysis of the commercial offer available in a given area.”

The company is actively looking for investment opportunities in many Polish local markets. In recent weeks, the company has sold a project of a retail park in Gostyń with an area of 9,000 sqm. (the buyer is Napollo Retail Development), or bought a retail park project in Rogoźno with a leasable area of 1,800 sqm from Gallop Properties.