Trei Real Estate has opened another two retail parks of its Vendo Park brand in Poland. The properties are located in Zambrów (Podlaskie Voivodeship) and Krakow (Lesser Poland Voivodeship). The investment volume adds up to c.€16.4 million. The two retail parks have a combined lettable area of around 11,000 sqm.
The Vendo Park in Krakow opened on March, 30. The total floor area of around 3,000 sqm divides into five retail units occupied by outlets of the chains TEDi, KiK (both textiles and interior decoration), Kakadu (pet supplies), Dealz (discount store) and DM (drugstore). The Vendo Park offers 70 parking spots on the grounds and is located between a Biedronka supermarket and a Lidl discount supermarket.
The larger of the two retail parks are located in Zambrów and already opened in early March. It consists of twelve storefronts on a footprint of around 8,000 sqm, occupied by a Biedronka convenience centre and outlets of the chains Rossmann (drugstore), Media Expert (consumer electronics), Kik, Pepco (textiles and interior decoration) along with clothing stores of the Smyk and Sinsay chains, among other retailers. Shoppers have the use of 260 parking spots.
“The diversified tenant mix makes our Vendo Parks popular not just among customers. They also remain an attractive investment. At a time when in-store retailing is suffering losses in revenue because customers have to scale back their purchases and acquisitions due to ongoing inflation, regional retail parks have continued to attract consumers while also providing a convenient shopping experience. In line with our strategy, we will continue to expand into promising towns like Zambrów and Krakaw, and will open another five Vendo Parks in Poland before the end of 2023,” commented Pepijn Morshuis, CEO of Trei Real Estate.
The two openings bring Trei’s Vendo Park portfolio in Poland up to a total of 34 retail parks. The retail park in Zambrów was developed through a joint venture with the investor Patron Capital. In the years ahead, Trei plans to construct between eight and eleven more Vendo Parks with a total value of c.€140 million within the framework of this collaboration. Two projects, one located in Szczecin and the other in Siedlce, are in the project planning phase.