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credit: CBRE
credit: CBRE

CBRE to manage STOP SHOP retail park portfolio in Serbia

CPI Property Group has appointed CBRE as manager of its STOP SHOP retail park portfolio in Serbia, which comprises 14 retail parks in 14 cities and more than 120,000 sq m of leasable area. CBRE will provide integrated asset management solutions, including financial and property accounting services, leasing services, and will oversee all operational aspects of the property and tenants.

“We are very proud of the mandate for the property management of STOP SHOP retail parks in Serbia, especially considering that it is an extension of the cooperation with the client with whom we started our journey in the region in January 2022, when we took over the management of the portfolio of STOP SHOP retail parks in Slovenia, which also includes 14 properties and a GLA of almost 100,000 sq m,” says Ivana Maksimović, Head of Property Management and Retail SEE, CBRE.

“With the addition of the STOP SHOP retail parks in Serbia to our portfolio, CBRE’s Property Management team now manages over 385,000 sq m and 34 properties of various types, including office, logistics and retail properties, in three Southeastern European markets. This scale of operations, together with CBRE’s global network, gives our clients access to best practices and expertise in portfolio optimisation and the ability to deliver value to their tenants. We are happy that CPI Property Group recognized the potential and benefits of such cooperation and for the trust they have placed in us,” said Maksimović.

CPI PG continues to invest in sustainable solutions within the STOP SHOP retail parks, setting significant trends in the market and numerous green building standards. The second phase of construction of the STOP SHOP retail park in Subotica is expected to be completed in 2024, when it will become one of the largest in Serbia with a total area of 15,500 sq m. There are also plans to expand the capacity of the Smederevo retail park in the following period.

As Maksimović points out, the value of a property manager is also evident in newly constructed buildings equipped with the latest technology, modern design and advanced construction methods. “The ever-present challenge in property management is innovation and ingenuity in maximizing efficiency, even in areas where it already exists. There is a growing emphasis on ESG segments and sustainability, regardless of asset type. There is also a growing focus on the well-being and satisfaction of employees, tenants and visitors to the properties we manage. We monitor these changes and enable our clients to grow.”

Maja Marić, Country Operations Manager for Serbia at CPI Property Group, said: “The property management model is changing and we firmly believe that CBRE, with its global experience, integrated solutions with a personalised approach to each client, as well as a team of local experts, will contribute to the creation of advanced solutions and a better experience for both our tenants and visitors to STOP SHOP retail parks. With a partner such as CBRE, I believe we will successfully continue the series of positive changes that STOP SHOP has initiated in the industry.”