Brico Depot Iasi sold to Radacini Grup in a transaction advised by Colliers

Colliers advised on the disposal of the real estate property Brico Depot Iasi to the real estate division of Radacini Grup. Schoenherr lawyers assisted the transaction for legal advisory, on the seller’s side. Located in the city’s retail and logistics area, the Brico Depot DIY store in Iasi has a sales area of approximately 8,000 square meters, with around 200 parking spaces and was opened in 2007 as a Praktiker brand.

Brico Depot, part of the British DIY company Kingfisher, entered the Romanian market in June 2013 by taking over the 15 Bricostore stores, and in December 2017 consolidated its position on the local market by acquiring the entire Praktiker Romania store network, becoming number 2 on the local DIY market with 35 stores in 23 locations.

“There was significant interest in acquiring the property leased to Brico Depot in the center of Iasi, given the increased investor demand for products that produce stable medium to long-term income in large cities. This shows that the Romanian economy is strong in general, not only in Bucharest, and that capital is gradually growing as the economy is maturing countrywide. Iasi is a city with impressive development in recent years, attracting hundreds of millions of euros in European funds and private investment, and has good potential for economic and real estate development”, says Simina Niculita, Director | Partner | Retail Agency at Colliers.

“We are pleased to have advised the Sellers on the successful structured disposal of this property and are also pleased to see private domestic capital investing into Romanian commercial property. The regional economic centers of Romania have a lot to offer and we are looking forward to the increase in investment activity in the leading cities of Romania”, adds Robert Miklo, Director| Investment Services at Colliers.