Vitantis concludes leasing transactions with total area of 3,900 sqm

Vitantis Shopping Center retail park, located in Bucharest, has signed 3 new leases with a total area of 3,900 sqm and lease terms between 5 to 10 years, in six months and amidst the challenging post-COVID context. Two new Romanian retailers, Proges and LaserMaxx, have joined the existing tenant mix in Vitantis, comprising La Cocoș supermarket, the DIY retailer Brico Depot and the furniture retailer Casa Rusu, while Grill Market has also expanded and consolidated the leased area in the retail park.

Proges is one of the most important Romanian retail companies specialized in interior design products, laminate and multilayer floors, carpets, rugs, curtains, wallpaper and interior doors. Proges currently operates 22 stores across Romania and has recently become the new tenant in the Home Center box in Vitantis. LaserMaxx Romania opened the first arena in the country in March 2007, is the market leader in the segment of laser tag and parties for children over 8 years and will open in Vitantis the largest and most varied space in its portfolio, on the first floor of the Family Center unit. Grill Market, a Romanian brand specialized in the delivery of outdoor cooking and entertainment products – grills and accessories, has expanded its leased area in the Home Center retail unit. Brico Depôt Romania, part of the Kingfisher Group and the second player on the DIY market in Romania, currently occupies a space in excess of 9,000 sqm.

Vitantis Shopping Center has a gross leasable area of ​​38,000 sqm, built on a land plot of approximately 8 hectares. The park is located in the southeast of Bucharest, at the intersection of two main routes Splaiul Unirii and Şoseaua Vitan-Bârzeşti, linking the center of the city with the east and south, in a densely populated area of ​​the city, serving residents of Districts 3 and 4.

Oana Partenie, Head of Property Management for Ceres Romania, the company in charge of property management for Vitantis retail park, states: “In a very challenging year for the Romanian retail market, the retail parks have proven to be more resilient than shopping malls, and Vitantis Shopping Center is no exception, being of interest for potential tenants, having excellent visibility, fewer restrictions imposed and benefiting from direct outdoor access to tenants’ units. Following the opening in November 2020 of La Cocoș supermarket and its excellent performance in its 10-month period of operation, succeeding to generate a footfall of over 3,000 people per day, Vitantis has reappeared on the radar of retailers, attracting new, well-known Romanian brands, which have excelled in becoming established businesses, expanding their network regionally or nationwide. We are excited to be part of the successful journey of local retailers while remaining a stable partner for the community in districts 3 and 4, by creating new jobs and bringing affordable shopping close to many families affected by technical unemployment during this exceptional period. The visitors of the retail park have direct outdoor access from the parking to the Brico Depot store and to the tenants in the Home Center building and can use the surface car park of 840 spaces. The new tenants will benefit from direct outdoor access, a relevant fact in the current context and of a potential forth wave caused by COVID 19”. According to JLL data from June 2021, the retail park has a catchment area of approximately 350,000 residents.