Category: Bez kategorii

Categories
Bez kategorii

Napollo Retail Development has bought a retail park project in Gostyn from Genesis Property

Napollo Retail Development has bought a retail park project in Gostyn from Genesis Property

The retail park project with a leasable area of about 9,000 sqm changed hands last week. The Gostynski facility added to the portfolio of the Napollo company, which is successively increasing the scale of its operations by developing retail concepts under the N-PARK brand throughout the country. Retail parks operating under the N-PARK banner are convenient shopping destinations for local communities. They are located both in housing estates in larger urban centers and in smaller towns providing residents with the necessary modern retail and service offer. Genesis Property is responsible for the comprehensive preparation of the investment in Gostyn. The new investor can in principle start construction work. Genesis Property is a real estate development and investment company providing Polish cities with flexible retail properties in the form of retail parks and free-standing commercial pavilions, as well as intimate residential developments. In addition to the project in Gostyn, the company is currently developing four retail parks with a total leasable area of more than 25,000 sqm, located in Ropczyce, Brzeziny, Rogozno and Żagań.

The retail park in Gostyn will open in the first quarter of 2024. A parking lot for about 300 cars is also being built next to the shopping complex. The property is located at the intersection of Zachodnia and Leszczyńska Streets in Gostyn just off the national road number 12, which guarantees an excellent connection to the existing transportation infrastructure and easy access to the property for both the city’s residents (Gostyn has a population of about 20,000) and residents of neighboring towns. Among the tenants who will open their stores in the new commercial facility will be: Biedronka, Rossmann, Pepco, Dealz, Kaes or Smyk.

“Gostyn is a city that lacks modern retail spaces and, consequently, the well-liked offerings of chain brands. In order to shop at such stores, residents had to travel to larger urban centers, and this took up their time and entailed additional costs. Thanks to the new facility and its extensive offer, residents of the city and its environs will be able to do their most necessary shopping in their immediate vicinity ” – says Juliusz Wawrzyniak, CEO of Genesis Property. “Retail parks are unique assets that for many locations are not only shopping and service centers, but also places for local communities to meet and integrate. We see that the potential of smaller retail properties and smaller urban centers is being more widely recognized by many tenants including those who until now were present only in large shopping malls located in central points of larger cities. These tenants are launching retail concepts tailored to the requirements of local communities. Retail parks are also an important link in the supply chain for those chains with online operations in addition to ground-based retail. Stores located in the facilities we are developing act as so-called pick-up points for people who have ordered goods via the web ” – emphasizes Julius Wawrzyniak.

“The retail parks developed by Napollo under the N-PARK brand are by design created to meet the initial needs of local communities in terms of products and services, but also to provide additional functions including recreation or catering. Each time we carefully analyze local conditions, so that the final shape of the property and its offer is as much as possible in line with local conditions including the expectations of local residents ” says Krzysztof Elsner, Board Member, Napollo Group. “Partnering with a company that specializes in locating and developing retail parks, such as Genesis Property, ensures that we attract to our portfolio facilities that meet our expectations of building value for all parties involved in such projects: residents, tenants and investors. Napollo’s portfolio currently includes 17 retail developments, galleries and retail parks, which provide the markets with approximately 105,000 sqm of leasable space – Underlines Krzysztof Elsner, Board Member, Napollo Group.

Categories
Bez kategorii

Retail park sector continues to grow

Retail park sector continues to grow

Answering questions: Juliusz Wawrzyniak, President at Genesis Property which is one of the leaders on the Polish market of parks and other smaller retail facilities

Space in retail parks is mostly leased by chains whose offerings meet the daily needs of consumers. Retail parks remained open during the pandemic, and when the effects of the pandemic began to dim, the dynamic development of this asset class began, which is not hampered by the perturbations caused by the war in Ukraine. What is behind such a good condition of this sector?

During the pandemic, retail parks and convenience centers remained open and were the preferred places to shop. Therefore, their owners fared better than mall owners. Retail parks allow easy access to retail establishments, as most stores can be entered directly from the parking lot. There are no common areas. Security in such facilities is greater than in large shopping malls gathering many people in a confined space.

Retail parks and other small facilities also have quite a few additional advantages over large-scale shopping centers. Rents are lower, and thanks to their location, parks are more accessible and allow for quick purchases. Thanks to lower rents, we can prepare a unique offer and invite not only international brands, but also local entrepreneurs to join us, making these facilities regional, recognizable shopping centers covering even a few neighborhoods.

In addition, smaller facilities complement e-commerce, which will continue to grow, but will not, in my opinion, threaten the existence of this asset class. What’s more, some of the e-commerce retail chains are using their ground-level stores as pick-up points allowing customers to conveniently pick up goods ordered online. We have had and are getting signals from tenants that they want to be present in retail parks and increase their presence in the regions: there are many places in Poland that have been deprived of modern retail so far, and this applies to small and medium-sized cities, as well as the outskirts of large urban centers, where it is not uncommon to see new locations planned for single- and multi-family developments. Retail parks are ideal formats for such locations.

So can we say that the investment market for this asset class is healthy and strong?

With certainty. Genesis Property will soon put into operation five retail parks with a total leasable area of 31,400 sqm. They will be built in Ropczyce, Brzeziny, Rogozno, Gostyn and Żagań. Much of the space in these parks is already leased by both international brands and local entrepreneurs, and advanced talks are underway for the remaining vacant units. At the same time, we are already receiving signals from specialized funds investing in smaller retail formats indicating interest in these assets.

Also taking into account other investment parameters and consumer preferences, which are keen on the parks’ offerings, they are the most attractive and secure assets available in the commercial real estate market at the moment.

Did the pandemic and subsequent events in the economy reinforce trends that were already evident in the market?

Consumers have always been keen to take advantage of the well-tailored offerings of retail parks in local communities. They are flexible assets, much friendlier than large commercial facilities, and in many respects: they allow consumers to make the purchases they need, and they are also open to local entrepreneurs, who often cannot afford to pay high rents in shopping malls or do not fit into the owner’s commercialization strategy and have no place in such facilities. We are now seeing that even those major retail chains that until now were present only in the largest, core shopping malls located in the centers of large cities are preparing store formats that fit into local retail parks, and in my opinion this trend will intensify. Retail chains want to increase their market share, and one effective way to do this is to open stores as close as possible to customers’ homes in locations that have so far lacked modern retail offerings.

Categories
Bez kategorii

Genesis Property expands its portfolio with a project in Rogozno

Genesis Property expands its portfolio with a project in Rogozno

Genesis Property has been consistently strengthening its position in the retail real estate market and in early February purchased another project, thus realizing the company’s ambitious development plans. The project in Rogozno with an area of 1800 sqm. (GLA), which is fully commercialized, Genesis Property acquired from Gallop Properties and MTS Invest. The transaction confirms the good condition of the retail parks and convenience shopping facilities sector. The facility is scheduled to open in 2023.

“This is another of our developments with Gallop Properties, and the choice of location is no accident either. The facility with an area of 1800 sq. m. (GLA) is being built in a very attractive commercial location, in the immediate vicinity of a Biedronka store. Tenants include such brands as Rossmann, Dealz and Sinsay. Such a mix of tenants will undoubtedly make it the most frequented retail location by the residents of Rogozno and the surrounding areas ” – says Juliusz Wawrzyniak, CEO of Genesis Property.

“We are committed to delivering the project as soon as possible. We plan to open the facility to customers later this year, and as a result, we are starting construction work right away ” – adds Julius Wawrzyniak.

Genesis Property already more than 20 years on the market

Genesis Property is a real estate development company with more than two decades of experience in the real estate market. Through meticulous site selection, it creates facilities that steadily increase in value. The company has the resources to complete the entire investment process from finding and purchasing the property to its construction and commissioning, creating traditionally commercial locations not infrequently in places where modern retail has been lacking until now.

Categories
Bez kategorii

Genesis Property has completed more than 30,000 sqm. (GLA) and is planning more retail parks

Genesis Property has completed more than 30,000 sqm. (GLA) and is planning more retail parks

More than 30,000 sq. m. of leasable space (GLA) has been delivered over the past several decades and another nearly 35,000 sq. m. scheduled for delivery in the next several months.

Genesis Property plans to deliver retail parks in Ropczyce (7,000 sqm GLA), Brzeziny (5,800 sqm GLA), Gostyn (9,800 sqm GLA), Rogozno (1,800 sqm GLA) and Zagan (7,000 sqm GLA) within the next several months. In the facilities completed to date, retail space has been fully leased by both chain brands such as Aldi, Biedronka, Stokrotka, Rossmann, Pepco, Dealz, Media Expert, KIK, Maxi Zoo, Martes Sport, Kaes, CCC, Tedi and Sinsay, as well as by local entrepreneurs. Commercialization of currently under construction is also progressing: much of the space has already been leased, and tenants include Aldi, Pepco and Dealz. Advanced talks are underway for more units. In addition to retail properties, Genesis Property is developing residential projects, as well as plans to debut in the warehouse sector in the next two years.

“Retail parks developed by Genesis Property are built in strictly selected locations that lack modern retail space. Our facilities provide a rich retail and service offer to residents of small and medium-sized cities, as well as to those who live on the outskirts of larger urban centers. When planning the construction of facilities, on the one hand, we carefully listen to the voices of our tenants, and on the other hand, we meticulously analyze the absorptive capacity of the local market in order to deliver formats that are tailored as much as possible to the requirements of local communities.” – says Juliusz Wawrzyniak, CEO of Genesis Property. ” The correctness of our concept is confirmed by successfully completed, commercialized and sold properties. Projects are bought from us by both large international entities and experienced domestic companies ” – emphasizes Julius Wawrzyniak.

“Genesis Property is planning to expand into other sectors of the commercial real estate market. We are carefully analyzing and preparing for projects in the warehouse sector, which we consider a natural extension of our current core business. I can confidently say that the company has grown into one of the larger players on the Polish market, specializing in smaller retail formats. We deliver high quality to all parties involved in the operation of the properties we develop: tenants, local communities and investors. We are planning our debut in the warehouse market over the next several dozen months, and we are currently working intensively on the commissioning of fully commercialized retail parks ” – Julius Wawrzyniak concludes.

***

Genesis Property is a real estate development company with more than two decades of experience in the real estate market. Thanks to our meticulous selection of locations, we create facilities that constantly increase their value. We have the resources to complete the entire investment process from finding and purchasing the property to its construction and commissioning, creating traditionally commercial locations not infrequently in places where modern retail has been lacking until now.

Genesis Property sp. z o.o. is a real estate development company with many years of experience in the real estate market. We develop commercial buildings in the food industry, retail parks, gas stations, fast food and convenience facilities.

  • Piatkowska Street 133/11
    60-648 Poznan