Cushman & Wakefield Healey & Baker has set up a retail joint venture in Greece together with its associate office Sotiropoulos Brothers, based in Athens. Under the venture, Arpad TÃ¶rÃ¶k joins Cushman & Wakefield Healey & Baker as Head of Retail for Greece.
Previously Arpad was part of C&W/H&Bâ€™s Budapest retail team, from where he went on to be Head of Leasing at TrizecHahnâ€™s joint venture in Hungary and Bratislava.
According to C&W/H&B research, Greece has only 10 sq m of GLA of shopping centre space per capita, compared with a European Union average of 163 sq m. In addition, around 50 international retailers are looking to enter the Greek market for the first time over the next five years.
Arpad TÃ¶rÃ¶k, the newly appointed C&W/H&B Head of Retail in Greece, said: â€Greece is still at the relatively early stages of shopping centre development compared with other Euroland countries. This new retail joint venture between C&W/H&B and Sotiropoulos Brothers provides an excellent opportunity to advise the many international retailers and developers keen to enter the Greek market, in particular with the approach of the Olympic Games in 2004.â€
C&W/H&B has worked together with Sotiropoulos Brothers as its associate office in the Greek market since 1991. â€Sotiropoulos Brothers has an excellent reputation in the market on which we will be able to capitalise to offer our international retail customers a first-class service,â€ Arpad continues.
(source: Cushman Wakefield)