Mitiska REIM and Park Lane Developments open first retail park in Bulgaria

Mitiska REIM, the leading specialist investor in European convenience real estate, has announced the opening of its first retail park in Bulgaria, developed on behalf of the MEREP 3 fund and in partnership with Park Lane Developments and the European Bank for Reconstruction and Development (EBRD).

This new development is the first of a planned rollout of the Estrea Park brand in Bulgaria under the joint venture with Park Lane Developments, part of AG Capital, and sets the benchmark for a growing pipeline of modern, convenience-led retail parks in the country.

Located in the Hadzhi Dimitar district of Sofia, the retail park is designed to achieve an “Excellent” BREEAM certification, and comprises 22 retail units with a gross leasable area (GLA) of 14,000 m², and parking for 300 cars. The site is in an established retail zone, adjacent to an existing Kaufland supermarket, and conveniently located close to residential areas.

Food-anchored by a Lidl supermarket, the retail park is fully let and offers shoppers a range of national and international brands, including Pepco, TEDi, Sinsay, ShockPrice, Intersport, DM Drogerie Markt, Zora and Komsed. The first floor of the center features a food court with McDonald’s, Burger King, KFC and Pizza Lab.

Tanya Koseva-Boshova, Managing Partner at Park Lane Developments, comments: “We are excited to open the first retail park under the Estrea Park brand. For us, this is a landmark moment and delivery of our plan to create convenient, well-maintained retail spaces at the heart of residential neighborhoods.”

Tomas Cifra, Mitiska REIM’s Managing Director for Romania, Czech Republic, Slovakia and Bulgaria, adds: “We see significant opportunities in the Bulgarian retail park sector, as retailers look for new retail space to meet the increasing demand from shoppers. Estrea Park is a convenient, modern and sustainable retail park, which will become a new go-to shopping destination for Hadzhi Dimitar and the surrounding area.”