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The Warsaw Voice » Real Estate » January 21, 2009
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Retail Market
January 21, 2009   
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ING Lease to Finance Polimeni Mall

Developer Polimeni International and finance provider ING Lease are teaming up to build the new Galeria Jastrzębie shopping center in the southern town of Jastrzębie Zdrój. ING Lease will be contributing 18 million euros towards the 22.5-million euro project.

Galeria Jastrzębie is now under construction at the intersection of Warszawska and Piłsudskiego streets in the center of the city. The facility will have 80 stores over four floors covering 17,000 sq m and underground parking for 130 cars. Tenants will include Delima, Reserved, Esotiq, Camaieu, Monnari, Molton, Pabia, House, Natura, Vision Express, Vobis and Marionnaud. The developer plans to open the shopping center in the fourth quarter of this year. The general contractor is Mostostal Warszawa.

This is the second Polimeni International retail center funded by ING Lease after the one completed in Słupsk in October last year.


Inditex to Open Four Stores in Blue City

Inditex, one of the world's largest fashion distributors, plans to open four clothing stores in June in the Blue City shopping center on Jerozolimskie Avenue in Warsaw.

The Spanish firm signed a lease for some 3,000 square meters with Blue City in December last year with help from commercial property consultants King Sturge. Inditex looked at several other shopping centers in Warsaw before picking Blue City as the site for its new stores. The four stores will include Zara for women and men, Pull&Bear, Bershka, and Stradivarius.

The inclusion of Inditex's brands is a calculated step toward increasing the number of fashion brands available in Blue City, the mall's executives said.

"After signing the lease with Inditex we observed increased interest in the shopping center from other well-known clothing brands," says Monika Bańkowska, a leasing manager for Blue City. "I am convinced that this year we will introduce several more strong and renowned brands to our shopping center to create a really strong group of tenants in the fashion-clothing segment."

According to Blue City executives, the signing of the Inditex lease was the culmination of an excellent year for leases. Electronic-goods retailer Saturn leased almost 6,000 sq m over two floors in 2008. Blue City's two office buildings, Blue Office 1 and 2, with some 30,000 sq m of office accommodation, were also let. The new office tenants include Deutsche Bank Polska, Saturn Media Holding, Raiffeisen Bank Polska, Commercial Union, ThyssenKrupp Elevator, Strauss, and Imperial CinePix.


Redevco Acquires Property in Katowice

Redevco Polska, a Polish developer with Dutch ownership, has paid 4 million euros to buy a commercial building on 3-go Maja Street in Katowice, southern Poland, from Centrum Development & Investments company. Real estate consultants Cushman & Wakefield negotiated the deal.

The seven-story facility offers 2,043 square meters of gross leasable area. The 1,244-sq-m retail part of the facility is occupied by German shoe retailer Deichmann, and the 799-sq-m office part is used by the National Chamber of Architects and Learning Systems Poland company.
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