Penny Centers Portfolio
Project Details
- GLA: 25,000 sq. m
- Current Owner: REWE Group
- Our Mandate: Q2 2017 – present
The Challenge
After the leasing process closed by Cushman & Wakefield Echinox retail team, we was appointed to provide also property management services.
The Solution
C&W Echinox worked consistently to stabilise the asset on a very competitive local market. A strategic approach has been devised and implemented to drive value into the scheme.
The Results
Penny Market Centers are projects where C&W Echinox demonstrated its capabilities by combining retail property management experience with strong letting abilities, taking into consideration that customers are looking for easy shopping alternatives and a mix of attractive brands. The five Penny Market Centers that have undergone reconfiguration are in a position with an excellent commercial vision, where we attracted a mix of tenants complementary to Penny Market’s consumer profile. Many of the tenants who opened stores alongside Penny also marked their presence in the cities (Decathlon, JYSK (3 units), Pepco ( 3 units). Deichmann, Zoocenter, Takko, TXM).
