ROMANIA INDUSTRIAL & LOGISTICS MARKET 2023
Bucharest, April 2022: The real estate consulting company Cushman & Wakefield Echinox has been appointed to manage Funshop Park project developed in Timisoara by the Polish company Scallier, one of the most dynamic investors in small and medium retail parks. The retail shop in Timisoara is the third project Funshop managed by Cushman & Wakefield Echinox, after taking over last year the management of two other retail parks, in Rosiorii de Vede and Focsani.
Scallier has acquired last year the project in Timișoara, originally named Prima Shops, from Oasis Retail & Development.
Funshop Timișoara is currently in advanced stages of development and will have a gross leasable area of 10,800 square meters, the delivery being scheduled for Q2 2022.
Until now, the investor and developer secured leasing contracts for 15 out of 20 retail spaces available in the project, with tenants such as TEDI, C&A, Flanco, KIK, MaxiPet, Pepco, Numero Uno, Sportissimo, Agroland, Noriel. In addition, the retail park will host important F&B operators with KFC, Mesopotamia or Noodle Pack amongst others.
The Asset Services team of Cushman & Wakefield Echinox will have responsibilities in managing day-to-day activities within the project, tenant relationship management, operational supervision, financial services and landlord reporting, through a team of specialists coordinated by Mihaela Petruescu, Partner Asset Services.
Mihaela Petruescu, Partner Asset Services, Cushman & Wakefield Echinox: “We are excited to expand our partnership with Scallier, and this new project proves that services we provide are in line with our client’s expectations. We trust in the format Scallier is developing in the Romanian market, bringing quality and modern projects to communities not covered until now by other developers. Scaller’s plans for Romania are very ambitious, and will change the retail landscape in the cities considered for future expansion.”
Scallier’s first project in Romania has been opened at the end of September 2021 in Roşiorii de Vede.
By the end of 2022, Scallier aims to open in Romania other retail parks with a total leasable area of 40,000 square meters in Mosnita Noua (Timis County), Hunedoara, Turda, Vaslui and Vladimirescu (close to Arad).
Scallier is a developer and asset manager of retail properties across Europe. Founded in 2011, the company specializes in retail parks, strip malls, and standalone retail assets. Scallier commits to provide best in class development and asset services for individual and corporate investors in the property market.
Cushman & Wakefield Echinox is a top real estate consulting company on the local market and the exclusive affiliate of Cushman & Wakefield in Romania, owned and operated independently. The asset services department within the company manages the most diverse property portfolio, providing management services for office buildings, industrial parks and retail projects, totaling almost 500,000 sqm, in Bucharest and in the main cities in the country. The team of over 80 professionals and collaborators offers a full range of services to investors, developers, landlords and tenants.
Cushman & Wakefield, one of the global leaders in commercial real estate services, with 50,000 employees in over 60 countries and $ 9.4 billion in revenue, provides asset and investment management consulting services, capital markets, leasing, properties administration, tenant representation, project management, design and evaluation services. For more information, visit https://cwechinox.com