The four retail facilities are located in regional cities: Stara Cegielnia in Szczecin, Galeria Kosmos in Koszalin, OK Centrum Walbrzych and OK Centrum Strzegom, with a total area of about 15,000 sq m GLA. On legal matters, the seller was advised by Dentons.
Information on the value of the sale and the buyer’s entity was not disclosed. All the facilities have a food operator of well-known discount chains – Lidl, Biedronka or Intermarche – as the main tenant. The buyer has plans to refresh some of the acquired assets and re-commercialize them.
“This transaction confirms that established retail formats, located in central, convenient locations, which can be acquired at attractive pricing, will continue to be the subject of transactions”, commented Michal Cwiklinski, Prinicipal, Managing Director at Avison Young in Poland.