DIY retailer Leroy Merlin recently announced that it has leased two retail spaces in Bucharest with a total area of 21,000 square meters from Supernova Group through a deal brokered by real estate consultancy Cushman & Wakefield Equinox. .
The two spaces, measuring 8,300 square meters and 13,000 square meters respectively, are located within the Supernova Lujerului and Supernova Pantelimon commercial galleries. These galleries are part of the former Cora portfolio of six properties acquired by Supernova in 2021 through sale and leaseback transactions, which have been modernized and rebranded or renovated. It is planned that
Leroy Merlin currently operates four stores in Bucharest, the latest of which opened in 2020. In Romania he has 21 Leroy Merlin stores and more than 3,000 employees in 15 cities.
“Although Romanians have become more cautious with their spending in recent years, they are still attached to and investing in their homes,” said Matthieu Baudouin, CEO of Leroy Merlin Romania. CEO) said.
“Strategically located in some of Bucharest's most densely populated areas, these two units complement Leroy Merlin's existing portfolio in the city and Supernova's restructuring of two shopping galleries. It integrates very well with both the tenant configurations that we aim to provide to our customers.'' The DIY segment has been one of the best-performing segments of the retail market in recent years, showing resilience even in difficult circumstances such as high inflation, declining consumption and rising interest rates. Furthermore, we believe that the local DIY market will continue to expand and create new investment opportunities,” said Bogdan Mark, Partner Capital Markets at Cushman & Wakefield Equinox. .
Supernova Group is an international company focused on the development and management of commercial real estate in Austria, Slovenia, Croatia, Romania and Slovakia. The Group's current portfolio consists of more than 110 properties with a total value of €2.2 billion.
Supernova entered the Romanian market in November 2020 by acquiring the Jupiter City Shopping Center in Pitesti, which has since been rebranded and completely renovated. Additionally, in 2021, Supernova Group also purchased the former Cola portfolio, which consists of six shopping centers in Bucharest (3 locations), Constanta, Bacau and Drobeta Turnu Severin.
“Supernova Group is excited to welcome Leroy Marlin as a strong tenant partner for our shopping centers. Their presence will undoubtedly enrich our shopping centers and provide added value to our portfolio and customers. Considering that Supernova Lugerlui will also undergo renovation and modernization in the coming period, the arrival of a valued partner like Leroy Merlin will make it one of the most attractive destinations in the region. We look forward to an even stronger shopping center.'' Markus Pinggera, Managing Director of Supernova Group, said:
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(Photo source: Alexandr Blinov | Dreamstime.com)