Immofinanz will soon start construction on a further shopping center under its VIVO! brand in the Polish city of Krosno. The new shopping center will have approx. 21,000m² of rentable space for more than 60 shops. Pre-rentals are successfully underway, with the future tenants including H&M, Media Markt and Helios Cinema. The investment costs will total approx. €34m, and the opening is planned for the fourth quarter of 2017. The VIVO! Krosno will be the third VIVO! shopping center in Poland.
VIVO! is the Immofinanz brand for shopping centers. They are designed for cities with a catchment area of at least 200,000 residents and are characterised by strong anchor tenants and an attractive branch mix. VIVO! combines shopping with an experience factor and is directed to the entire family. The shopping centers are generally single-storey and have a high recognition value, which makes them ideally suited for further growth. The first VIVO! shopping centers were opened during 2014 and 2015 in Poland.
In addition, Immofinanz is currently working on the roll-out of the VIVO! brand in Romania. The four shopping centers in that country are being rebranded: the Polus Center Cluj will become the VIVO! Cluj, the Maritimo Shopping Center Constanta will become the VIVO! Constanta, Pitesti Mall will become the VIVO! Pitesti and the Gold Plaza Baia Mare will become the VIVO! Baia Mare. The rebranding of these fully rented shopping centers with combined rental space of 147,000m² will be completed in 2017.
“We are focusing primarily on medium-sized and smaller cities for the expansion of our retail portfolio. Based on their size and offering, the VIVO! shopping centers are optimally suited for these types of locations“, indicated Dietmar Reindl, COO of Immofinanz. “A high degree of standardisation allows for cost efficiency and synergies for our tenants, and also for us as the landlord.“
