Mitiska REIM is a specialist real estate investment manager targeting retail parks, urban logistics and multi-let light industrial, a sector we call convenience real estate. Sited on urban infill locations, these projects capitalise on the increasing demand from end users for accessible locations, affordable buildings and flexible design.
In the past 10 years, Mitiska REIM has built on behalf of funds a portfolio of 76 properties representing 810,000m² gross leasable area across Belgium, The Netherlands, France, Germany, Spain, Portugal, Romania, Poland, Czech Republic and Slovakia.
For the past several years, we have seen an accelerating opportunity in convenience real estate driven by the converging trends in retail, urban logistics and multi-let light industrial. Several social-economic megatrends are underpinning this evolution:
The core proposition of retail parks, based on convenience, essential shopping and value or money, continues to position the sector strongly for the future and as a preferred retail format for both retailers, shoppers and investors alike.
Offering large units with relatively low rents and high car parking provision, retail parks have not only become the most convenient location for servicing daily shopper needs, but are also ideally suited to support omnichannel retailers offering click and collect orders, customer returns and home deliveries.
The increase in e-commerce sales has had a significant impact on the demand for logistics space across Europe. This surge in demand has raised the bar in terms of meeting consumer expectations for quick and timely deliveries and is driving the need for last-mile logistics bases in urban locations.
The convenience real estate model is ideal for retailers wishing to develop a hybrid retail store format which will include both front-of-the-house, consumer-facing retail and a back-of-thehouse fulfilment centre.
Demand for multi-unit light industrial schemes is on the rise as the growing number of small and medium-sized businesses look for convenient sites close to their customer bases and their employees, in which to expand their operations.
The flexible design of convenience real estate developments in a mixed-use setting is ideally positioned for the differing business models and space requirements of SMEs. When developed in combination with a retail park, employees benefit from the daily convenience offered by the retail park onsite, making their workplace a more lively and attractive place to work.
We work with local co-investment partners to look for existing income producing properties with strong upside potential such as under-rent situations, where we can add value through refurbishment, re-development, extension and active asset management.
We are also active in new developments, where local co-investment partners can leverage our 30 years’ experience in concept definition, design, construction, leasing, bank financing, retailer relationships and exits.