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Commercialization of Galeria Bursztynowa accelerates with 85% of its space already let

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LPP S.A.’s fashion brands Reserved, Sinsay, Mohito, House and Cropp, RTV EURO AGD, the largest Polish specialist retailer, and Martes Sport, a distributor of sports clothing, footwear and accessories, are all new tenants in the Galeria Bursztynowa shopping centre in Ostrołęka. They have leased a total of 3,865 sq m for their stores, which brings the occupancy rate of Galeria Bursztynowa to 85%. Cushman & Wakefield, a leading global real estate services firm, is the exclusive agent in the commercialization of this development.

Galeria Bursztynowa is being developed in Gorbatowa and Żebrowskiego streets in downtown Ostrołęka, a city with the population of approximately 54,000. It will total around 32,000 sq m of usable space, including 27,000 sq m of retail space to let in about 60 units. The shopping centre offers superb access, including five separate access roads, to the inhabitants of both Ostrołęka and the surrounding areas. It will also provide a car park with more than 850 parking spaces. Galeria Bursztynowa is scheduled to open in spring 2014.

Tomasz Górski, a senior negotiator from the Retail Department of Cushman & Wakefield, said: “Reserved is another large store fashion retailer to have signed a lease with the owner of Galeria Bursztynowa. We are glad to see that the retail offer of this shopping centre has been extended to include the brands of LPP S.A., the RTV EURO AGD retail chain and Martes Sport. Within one week we managed to increase its occupancy rate from around 70% to 85%, which proves that tenants feel confident about this retail scheme. Talks are currently underway for the remaining space, but we encourage all companies, including local businesses, interested in gaining a foothold in Galeria Bursztynowa to contact us.”

LPP S.A. is a Polish fashion designer and distributor. Its retail chain comprises more than 1,170 stores located across Poland and ten other European countries. LPP S.A. has been listed at the Warsaw Stock Exchange since 2001. Galeria Bursztynowa will house stores of its five brands: Reserved (1,461 sq m), Sinsay (397 sq m), Mohito (407 sq m), House (396 sq m) and Cropp (404 sq m).

RTV EURO AGD is the largest Polish specialist retailer offering electronics, household appliances, laptops and other computer hardware, telecommunications devices, as well as photographic equipment and accessories. It has 200 stores in 116 towns and cities across Poland and operates an online store at www.euro.com.pl. The tenant will take up 450 sq m in Galeria Bursztynowa.

Martes Sport is a Polish company with its headquarters in Bielsko-Biała. It distributes products of brands such as Arena, Colmar, Elbrus, Hi-Tec, Iguana, Magnum, Martes and Nike. Martes Sport, whose first store was opened in August 2005, will lease a 350 sq m unit in Galeria Bursztynowa.

Galeria Bursztynowa will be anchored by a Tesco hypermarket (around 8,000 sq m), along with the CCC footwear retailer (more than 600 sq m) and a Rossmann drugstore (418 sq m). It will also have a store of the Orange telecommunications company, a Kolporter store, chain cafés, a pharmacy and drycleaners. The stand-alone building of the retail development will be leased by the DIY retailer OBI, which will occupy around 8,000 sq m.

The Retail Department of Cushman & Wakefield is the exclusive agent in the commercialization of Galeria Bursztynowa. The full construction design was prepared by Jacek Zub with the Project Management team of Cushman & Wakefield. Narev Inwestycje is the owner of the scheme.

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