IMMOFINANZ, a leading real estate investment and development company in Central Eastern Europe (CEE), opened on the 26th of April its sixth STOP SHOP retail park in Serbia, located in the town of Vršac.
The new retail park consists of 8,250 sqm and is 100% rented. Its tenant mix comprises of more than 20 prominent local and international brand names including Reserved, Sinsay, LC Waikiki, Deichmann, CCC, dm drogerie markt and Roda mega market.
The opening ceremony featured live musical performances from popular Serbian artists such as Inspektor Blaža, Lexington band and Bajaga and Instruktori. In addition to the varied musical and entertainment program, visitors also enjoyed discounts in the newly opened stores.
With the new opening, IMMOFINANZ increased its STOP SHOP retail park portfolio to 72 locations with approximately 500,000 sqm of rentable space. Earlier this month, the company opened a new retail park in the Serbian town of Požarevac. A further location in Sremska Mitrovica is scheduled to open in 2019, and other projects are currently in preparation.
“Our STOP SHOPs are likable and convenient retail parks with efficient transport connections, lots of parking and good value for money. Our tenants welcome the standardized shopping format, which stands for high and and reliable quality, “ stander Deitmar Reindl, CEO of IMMOFINANZ.
He also added that the company plans to continue expanding the retail scheme in CEE.
“After we increased the number of STOP SHOP locations from 58 to 70 in 2017, the growth course is continuing rapidly. Our goal is to grow to roughly 100 locations over the coming years. That makes us the leading retail park operator in the CEE region.“
The 72 STOP SHOPs are located in Austria, Slovakia, Hungary, Czech Republic, Poland, Slovenia, Serbia and Romania. The occupancy rate equaled to 97.9% at the end of December 2017.
About STOP SHOP
STOP SHOPs are the IMMOFINANZ brand for retail parks, which are characterized by a standardized format and an attractive tenant mix. They are located primarily in towns with catchment areas of 30,000 to 150,000 residents and generally have 8,000 sqm to 15,000 sqm of rentable space. Key features of the STOP SHOPs are uniform quality standards, easy shopping for everyday requirements and high recognition value.
IMMOFINANZ is a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania and Poland. The core business covers the management and development of properties, whereby the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. The real estate portfolio has a value of approx. EUR 4.2 billion and covers more than 230 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw.