Avison Young represented a global investment manager in the sale of a portfolio of 4 retail facilities, located in regional cities: Stara Cegielnia in Szczecin, Galeria Kosmos in Koszalin, OK Centrum Walbrzych and OK Centrum Strzegom, with a total area of about 15,000 square meters GLA. Information on the value of the sale and the buyer’s entity was not disclosed. All the facilities have a food operator of well-known discount chains – Lidl, Biedronka or Intermarche – as the main tenant. The buyer has plans to refresh some of the acquired assets and re-commercialize them.
“This transaction confirms that established retail formats, located in central, convenient locations, which can be acquired at attractive pricing, will continue to be the subject of transactions.”
– Michal Cwiklinski, Prinicipal, Managing Director at Avison Young in Poland, comments on the transaction.
On legal matters, the seller was advised by Dentons.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. Headquartered in Toronto, Canada, Avison Young is a collaborative firm owned and operated by its principals. In the Central Eastern Europe and South Eastern Europe the firm is operating in Bulgaria, Czech Republic, Hungary, Poland, Slovakia and Romania, offering a broad range of consultancy services. In the Polish commercial real estate market, Avison Young is providing professional consultancy services such as office agency, investment advisory, valuation consultancy, technical advisory and project management.