Eden Retail Park. Image: Focus Estate Fund

JYSK expands in Eden Retail Park in Zgorzelec, Poland

JYSK, a global retail chain from Denmark offering a full range of household goods, has expanded its sales area by 30% at the Eden Retail Park in Zgorzelec, Poland.

After the signing of the contract, the store will occupy an area of 1,400 square meters and will open in a renewed concept in 2021. Before the expansion, JYSK will continue to operate in its current format.

“Without any doubt, the pandemic made adjustments to our plans, but did not foil them. After the store opened in May, we have recorded the increase in turnover over the past six months compared to the same period in 2019, which is encouraging. We continue to expand and increase our assortment in small towns. In this difficult period, the format of the retail park is the best fit for the times. In Eden Retail Park we have our own entrance, our customers do not use the common areas, as in large shopping centers, and the increase in the lease area will allow us to take even better care of social distancing,” Dominik Lonski, JYSK Development Manager comments.

“We are proud that our anchor tenant has improved its financial performance during the difficult times and has decided to enlarge its leasing area. Eden Retail Park, due to its focus on the local costumer, who prefers fast and safe shopping close to the place of residence in the conditions of COVID-19, has restored the flow of buyers quite quickly. This seems to be a good sign for the local retail market. As well as the fact that the average turnover of our tenants in September has already surpassed the figures for the respective period last year. I think we are really lucky to have completed the reconstruction of the shopping center into a retail park just a couple of months before the pandemic. Now this is one of our strong advantages,” Maxim Shkolnick, Focus Estate Fund Partner, pointed out.

It is worth reminding that Focus Estate Fund has acquired Eden Retail Park in 2018, invested over 2 million euros in order to change the format from a shopping center into a retail park. The reconstruction of the retail park was completed in December 2019. Its anchor tenants are well-known international and local brands, such as: Decathlon (1,900 sq. m.), Jysk (1,400 sq. m.), Action (867 sq. m.), Chinski Market (1,344 sq. m.), Komfort (565 sq. m.).

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Ikea Westbahnhof Vienna: It will be August 26, 2021

On this day, Ikea Westbahnhof Wien opens its doors after two years of construction. The new omnichannel store with its green facades is completely car-free. Among other things, a roof terrace offers a view over the Austrian capital.

Change in the YIT Management Team

YIT Corporation's Board of Directors has appointed Tuomas Mäkipeska (43, M.Sc. in Economics) as YIT’s Chief Financial Officer and a member of the Group Management Team. He shall take over his position latest at the beginning of February 2022.

M7 signs 1,000 sq m letting with fashion brand, Sinsay, at the Csillag Center in Budapest, Hungary

M7 Real Estate, the pan-European investor and asset manager specialising in multi-tenanted properties, announces that it has completed the letting of a significant 1,025 sq m retail unit at the newly refurbished Csillag Center in Budapest, Hungary, to Polish fashion brand, Sinsay, on behalf of M7 CEREF I.

New Centre Manager Appointment at CBRE Global Investors’ Angel Central

CBRE Global Investors announced the recent appointment of Adam Cummins, as the new Centre Manager at leading London leisure and retail destination, Angel Central. He joins the team at Lambert Smith Hampton, appointed by CBRE Global Investors as the managing agents for the destination.

Breuninger expands its presence to Hamburg

In 2023, Stuttgart-based fashion and lifestyle company Breuninger will open a new flagship store in the Westfield Hamburg-Überseequartier district, its first location in northern Germany. As the largest anchor tenant by far in the heart of Hamburg’s HafenCity district, Breuninger will occupy a total area of more than 14,000 square metres in the future. The long- term lease agreement with the project developer and district operator Unibail-Rodamco- Westfield (URW) was signed today in Hamburg.

New Faces at Nepi Rockcastle

The Board has nominated George Aase as Chairman of the Board, effective 18 August 2021. Rudiger Dany has been contracted by the Company from 6 July 2021 and will be appointed as Chief Operations Officer of NEPI Rockcastle effective 18 August 2021.