Sylvie Geuten-Carpentier, Managing Partner of Mitiska REIM and Baia Mare retail park with 8,200 sq m commercial space and 300 parking spots. Credit: Mitiska REIM

Mitiska REIM’s retail park portfolio expands in Romania

Mitiska REIM announced the opening of a new retail park development in Baia Mare and of an extension to an existing retail park located in the Romanian city of Medias.

Both projects were developed in partnership with Square 7 Properties. The new Baia Mare retail park has a gross leasable area (GLA) of 8,200 sq m and is conveniently located adjacent to an existing Kaufland supermarket, on a main boulevard in the southwest of the city. This new development features a Lidl supermarket as an additional food-anchor and a mix of popular retail brands which include JYSK, Pepco, Kik, DM, C&A, Numero Uno, Tabac Xpress, Sportisimo, Sinsay, and SuperZoo. 

The extension at Medias retail park has increased the commercial area of the site by 8,000 sq m, to now total 9,000 sq m. The site is located next to a Kaufland supermarket, with new tenants Altex, C&A, KIK, SuperZoo, Hervis, CCC, New Yorker, Noriel, Sinsay, etc. 

Both the Baia Mare retail park and Medias extension have been designed to achieve a ‘Very Good’ score on the BREEAM scale. Mitiska REIM’s portfolio in Romania now totals 24 retail parks. Mitiska REIM has secured a pipeline of 3 additional retail park opportunities in Romania for 2022.

Tomas Cifra, Mitiska REIM’s Investment Director for Central and Eastern Europe, comments: “We believe the targeted locations, diversified tenant mix and sustainable approach, in combination with the positive socio-economic trends in Romania, will continue to drive future growth opportunities across the portfolio.”

Sylvie Geuten-Carpentier, Managing Partner of Mitiska REIM, comments: “An existing trend the pandemic has accelerated is that of convenience, as consumers have become more purpose-driven in their shopping and have been choosing retail parks for their needs-based essential spending.”

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