Cocor store to open in September

The Cocor store in Bucharest, which closed in 2008 for expansion and refurbishing works, will reopen in September, with 74 percent being currently rented out, the company has announced.

At the beginning of last year, the store owner announced that it would open the unit in May if the outlet were more than 85 percent rented. The reconstruction works started in 2008 and entailed an investment of EUR 24.5 million from the owners and EUR 19 million put in through a credit.Besides seismic consolidation, the refurbishing works increased the built surface from 10,000 sqm to 25,000 sqm, while the rentable area grew from 6,000 sqm to 10,000 sqm.

The store, which has been renamed Cocor Department Store, has so far attracted around 90 brands, such as Laura Biagiotti, Calvin Klein Jeans, Celios, Eden Spa, Pierre Cardin, Guara and Levi’s kids.

According to the company, rents in the store stand at EUR 58 per sqm, over the projected EUR 55 per sqm when the project’s financing and feasibility study were drafted.

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