Bucur SA to open first phase of Bucur Retail Park on December 6

CBRE is advising Romanian company Bucur SA for renting commercial spaces from the newest project that the company is developing: Bucur Retail Park, located on the Timisoara Boulevard in Bucharest, the project benefits from a location with a high residential density.

Bucur Retail Park will occupy a total area of 28,000 sqm and will be developed in three phases, the first of which is dedicated exclusively to retail space and will be completed on December 6, 2018, when 4,200 sqm of commercial space will be officially inaugurated.

In the first phase of the construction, 4.200 sqm of commercial spaces will be occupied by important names on the Romanian market, among which there are Penny Market, a hypermarket owned by the German Rewe Group, which occupies an area of 1,288 sqm, German fashion retailer Kik, who will open its first store in Bucharest, on an area of 603 sqm, the Pepco retail network, which leased 438 sqm in Bucur Retail Park, JYSK, the Danish furniture and decoration retailer, occupying an area of 1,052 sqm and the German chain of cosmetics and consumer goods stores, DM Drogerie Markt, which is opening of 412-sqm unit.

Bucur SA says that the second stage of the project will be dedicated to the agri-food sector, and the third one to the residential sector. The full completion of Bucur Retail Park is scheduled for 2022.

”We are very glad for our role in the growth of a project that will successfully integrate the retail and residential components and which brings together, from the first stage of development, extremely strong players in the consumer goods area. We had an excellent cooperation with representatives of Bucur SA, and this has made its mark on the entire process of mediation of the rental transactions. We are convinced that this new project will have an extremely good path and will soon become an important proximity center. The big names that will open units in Bucur Retail Park, the continued development of this area and the very good traffic that the shopping centers located here tend to have are solid premises for the success of the project,” said Carmen Ravon, Head of Retail Leasing at CBRE Romania.

Bucur SA is a local company established in 1946 and formerly named ICRA Bucharest (High Commodity Food Supply Company). The company has a diversified activity, from the sale of food and non-food products, to the rental of commercial and warehouse space, as well as the provision of a complete package of logistics services in these spaces.