Colosseum commercial center to be extended with new 20,000 sqm section, says C&W Echinox

The Colosseum commercial center in the north-western part of Bucharest is being extended as terms have been reached with the general contractor and the construction works have started.

Colosseum Mall represents the most important retail development in Bucharest during the last three years, a period during which the purchasing power per capita at the city level increased by almost 20%, says Cushman & Wakefield Echinox, the strategic consultant for renting the new spaces at Colosseum.

The project will be extended with a new section with a total area of ​​approximately 20,000 square meters, which will be primarily dedicated to fashion & beauty retailers (45%), leisure & entertainment (30%) and food & beverage (12%).

As a result of the expansion, the Colosseum project will reach 54,500 sq. m of retail space, being the second largest retail scheme in the 1st Sector of Bucharest and the seventh largest at city level.

“The density of modern retail space in Bucharest is below the average of other cities in the country, while the purchasing power per capita is significantly higher as it continued its sustainable growth in recent years, amid the rise in wages,” said Bogdan Marcu, Partner, Retail Agency, Cushman & Wakefield Echinox. “In this context, retailers are constantly looking for new opportunities, and the expansion of Colosseum in a developing area of Bucharest has come to meet this demand. Thus, about 10 months prior to its completion, agreements have been signed with all the tenants occupying large areas, and in the next period negotiations will be held regarding the few small units that are left to be leased.”

New tenants, such as the Happy Cinema operator, the World Class fitness center network, over 20 fashion and beauty stores, as well as 12 restaurants and cafes, will be added to an already mix that includes Carrefour, Leroy Merlin, Altex, JYSK, LC Waikiki, Sport Vision or Pepco.