The leading specialist investor in European convenience real estate, Mitiska REIM, has announced the opening of a new retail park in the Romanian city of Pitesti.
The new Pitesti Shopping Park is food-anchored by a 5,000sq m owner-occupied Kaufland supermarket and features 15 units with a gross leasable area (GLA) of 17,285sq m, with parking for 392 cars and 12 EV charging stations. Conveniently located on one of the city’s main boulevards and close to the A1 motorway, the new retail park offers a range of national and international brands, including TEDi, Pepco, KiK, a Clever Fit gym and the first Leroy Merlin DIY store and first Burger King drive-through in the city.
Developed on behalf of the FRI 2 fund and in partnership with Square 7 Properties, this latest development is the first by Mitiska REIM in Romania to include solar panels on the roof area, which will supply the majority of the centre’s electricity requirements and the first to target an “Outstanding” BREEAM certification. Development finance for the retail park was provided by Erste Group AG.
Clemens Petschnikar, CEO of Square 7 Properties, comments: “Pitesti Shopping Park is our most sustainable retail park development in Romania to date. It offers shoppers a complete convenience retail hub spanning groceries, DIY, fashion and discount goods, in addition to restaurants, a pharmacy and gym. Designed to achieve an “Outstanding” BREEAM certification, it is on track to become one of the most sustainable retail parks in Romania.”
Tomas Cifra, Mitiska REIM’s Managing Director for Romania, Czech Republic, Slovakia and Bulgaria, comments: “This latest retail park continues our investment program in Romania to meet the increasing demand for convenient, modern and sustainable retail infrastructure from retailers, shoppers and investors. We have a strong pipeline of further investment opportunities in the Romanian market, spanning retail parks, multi-let light industrial and urban logistics projects as we continue to secure additional investments for our latest fund, MEREP 3.”
