For a long time, retail parks were not exactly known for their emotional appeal. They were efficient, practical – and often overlooked. Today, that perception is shifting.
“For us, this is not a sudden trend,” says Sorin Scurtu. “Retail parks have always been a very resilient product. Their strength lies in their fundamentals – lower development and operating costs, combined with stable performance.”
Both Scurtu and Brugger base their perspective on markets such as Austria and Central and Eastern Europe (CEE), where they are active and where retail parks have seen particularly dynamic development in recent years.
Markus Brugger, Managing Director at CC Real
Sorin Scurtu, Executive Director Leasing at CC Real
Evolution, Not Reinvention
The concept often referred to as “Retail Parks Plus” is, in their view, less a disruption than a logical next step.
“It’s an evolution of the same product,” Scurtu explains. “The goal is simple: to remain competitive and, most importantly, relevant to customers.”
Many retail parks today already go beyond pure convenience retail. They are gradually turning into places where people not only shop, but also spend time – even if that shift is happening at different speeds depending on the location.
Why Retailers Are Looking Again
From a retailer’s perspective, the appeal is clear.
“Cost efficiency and predictability are key,” says Markus Brugger. “Occupancy costs are usually lower than in high streets or shopping centers – often with comparable turnover.”
At the same time, retail parks offer a level of operational simplicity that has become increasingly valuable. Fewer technical complexities, lower maintenance risks, and simple cost structure make expansion easier to plan.
“In uncertain times, that kind of predictability becomes a real advantage,” Brugger adds.
From Retail Space to Everyday Hub
What is changing, however, is the role of the retail park itself.
“Customer expectations have evolved – and retail parks are reacting to that,” says Scurtu.
Food & beverage, services, and new types of tenants are becoming part of the mix. Some elements, such as EV charging or basic F&B, are already seen as standard. Others – from healthcare and fitness to more specialized services – are increasingly used to differentiate locations.
“In CEE markets, you can really see how quickly these concepts can scale,” Scurtu notes. “If a model works, it can be rolled out across multiple locations very efficiently.”
Convenience First – Experience Second
Despite these changes, retail parks are not turning into traditional shopping centers.
“The core remains convenience,” Brugger emphasizes. “Fast, easy access, clear structures – that’s what customers value.”
The idea of transforming every retail park into a full-fledged leisure destination, he suggests, would be misguided. The shift towards more stay quality is real – but it is gradual and highly dependent on the specific asset.
Competing with Shopping Centers – on Different Terms
In the broader retail landscape, retail parks and shopping centers are increasingly overlapping – but they are not the same product.
Retail parks offer efficiency, accessibility, and clarity. Shopping centers provide a wider range of goods, higher footfall, and a stronger focus on experience.
“In smaller cities, suburban areas or rural regions, retail parks are often the better solution,” says Scurtu.
This is also where a structural shift is becoming visible. According to both experts, smaller and mid-sized shopping centers are starting to lose relevance in some markets, while dominant large-scale assets remain largely unaffected.
A Growing Role in Local Ecosystems
As the tenant mix evolves, so does the role of retail parks within their communities.
“They have the potential to become real local hubs,” says Scurtu. “Especially in regions where traditional town centers are struggling to keep up.”
In many cases, retail parks are no longer just places to shop, but places where everyday needs – from retail to services – are bundled in one location.
Sustainability: More Than a Buzzword
Sustainability has moved from a design feature to a core investment criteria. For Brugger, however, the focus should go beyond simple certifications.
“It’s not just about how you build – it’s also about how you operate,” he says.
Energy efficiency, renewable energy, and smarter building systems are now standard requirements, alongside growing pressure from EU taxonomy and reporting frameworks. But true sustainability is measured in day-to-day performance. “A building that looks green on paper but performs poorly in operation is not sustainable.”
At the same time, economic resilience remains key. A strong tenant mix, flexible space, and good accessibility underpin long-term income stability – and ultimately asset value.
The social dimension is also gaining weight. Especially in smaller cities and suburban areas, retail parks often act as essential infrastructure, providing services, jobs, and local connectivity.
“In the end, sustainability and performance go hand in hand,” Brugger concludes. “Only assets that remain relevant for customers, tenants, and communities will hold their value over time.”
Where the Model Reaches Its Limits
At the same time, the model is not without challenges.
“One of the biggest risks is getting the scale wrong,” Scurtu explains. “Too big or too small – both can quickly lead to a loss of relevance.”
Another limitation is tenant mix. Many international brands, particularly in fashion or premium segments, are still hesitant to enter retail park environments.
There are also operational realities. “F&B and entertainment are not universal solutions”, Scurtu cautions. “They depend heavily on operator quality and are often very staff-intensive.”
In fast-growing markets, there is an additional risk: oversupply. Low entry barriers can lead to rapid expansion – and, in some cases, cannibalization.
Looking Ahead: Retail Parks in 2035
So what will the retail park of the future look like?
“More attractive, more integrated, and definitely more connected – one the one hand with its customers and on the other hand with its (immediate) surrounding,” says Brugger. Omnichannel strategies will play a key role, linking physical locations with digital touchpoints. The synergy between retail and residential developments will gain significantly in importance, as land becomes increasingly scarce and land usage limitations stricter.
Retail itself, however, will remain at the core. “It’s not a question of whether retail is needed – it’s about how it is delivered,” he adds.
Regional differences will persist. While development in Western Europe is expected to remain more limited, CEE markets are likely to see continued growth and densification.
A Format Gaining Strategic Attention
For Scurtu and Brugger, retail parks are also becoming increasingly relevant from a strategic perspective.
While they are currently only selectively active in this segment, both see significant potential going forward.
“It’s definitely a type of asset that we consider extremely exciting,” Brugger says.
In One Sentence
Or, as he puts it:
“The retail park of the future is no longer a concrete box with parking – it’s a hybrid, sustainable, socially embedded and digitally connected everyday hub.”
