Just after the opening of its B1 Retail Park in Bistrita, Mitiska REIM announced that it has opened a new retail park in the Romanian city of Pascani in partnership with Squaretime Development.
The project has a gross leasable area of 2,200 sqm, housing major international tenants – Takko Fashion, Flanco and Deichmann, as well as 120 parking spaces.
The land for Retail Park Pascani was acquired by Mitiska REIM as part of the Alpha Property portfolio transaction in March 2017, which the company acquired from its Romanian investment partner Intercora.
At present, Mitiska REIM operates a total of 21 sites in Romania and is positioned as the leading retail park investor in the local market.
According to Devid Tejmi, the company’s CEE Investment Director, MITISKA REIM aims to expand its collaboration with local partners such as Squaretime Development in order to build a strong pipeline of opportunities in Romania, as well as across Europe.
Mitiska REIM is Europe’s leading specialist investor in retail parks, focusing on open-air commercial parks above 3,000 sqm with at least five retailers, offering convenient shopping, ample free parking and affordable infrastructure. Properties typically offer a mix of necessity-driven retail brands, anchored by a major food store which drives daily footfall.
In just four years, Mitiska REIM has built a portfolio of 33 income producing retail parks and 12 retail park development projects, representing approximately 360,000 sqm GLA across Belgium, France, Germany, Spain, Romania, Poland, Czech Republic and Serbia.