London,
30
November
2014
|
00:00
Europe/London

CBRE Advises Atrium European Real Estate in the €122m Purchase of Focus Mall in Bydgoszcz, Poland

CBRE, the world’s largest real estate advisor, announced today that Atrium European Real Estate Limited has purchased the Bydgoszcz Focus Mall shopping centre from Aviva Investors for €122 million. CBRE provided the buyer with advisory services during the transaction process.


Mike Atwell, Head of Capital Markets CEE, CBRE, commented:

“Investors are increasingly interested in regional commercial real estate markets, both large and smaller, recognizing their growing potential. In the coming years, these cities will witness a gradual increase in the number of transactions across all segments of the commercial real estate market as well as the implementation of new projects. There is an interesting trend that is rapidly gaining in popularity to expand and revitalize older buildings. This trend is now reaching smaller cities.”

The Focus Mall in Bydgoszcz was developed by Parkridge Retail Development and commissioned in 2008. This 2-storey building located on 39-47 Jagiellońska Street, offers 41,000 sq m of retail GLA and features a list of tenants that includes: Alma, Saturn, Cinema City, Intersport, Zara, Reserved, C&A, New Yorker. The building has 850 parking spaces located on two levels, and it is estimated that approximately 470,000 residents are in the impact area of the shopping centre.