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News Release

Warsaw

Caelum Development and Jones Lang LaSalle will jointly commercialise 40% of remaining retail space in NoVa Park, Gorzów Wielkopolski


Warsaw, 18 January 2011 – The investment group Caelum Development has concluded a cooperation agreement with Jones Lang LaSalle regarding the commercialisation of retail space in NoVa Park in Gorzów Wielkopolski. Both companies will jointly lease 40% of remaining retail space of the shopping gallery. 
 
“Cooperation between our companies assumes common work on very good project and it brings possibilities for our skills exchange as very experienced at the market.” – reveals Grzegorz Mroczek – Leasing Director, Caelum. “We want to finish a leasing process of NoVa Park project as soon as possible and together with Jones Lang LaSalle we are even more optimistic to do so.” – he adds.
 
Edyta Potera, Associate Director at the Jones Lang LaSalle Retail Agency adds: „Currently we observe growing interest of both investors and retailers in smaller Polish cities. The cities with population above 50 000 are becoming increasingly popular for the retail sector. In Gorzów Wielkopolski where there is good relation between consumer spending power and retail space saturation rates there is demand for new shopping centres. NoVa Park will fulfil the shopping needs of local consumers and simultaneously will supplement the offer provided by existing Galeria Askana.”
 
The Gallery is currently 60% leased. Among tenants there are several brands that have not been present on the local market yet, including: H&M, MK Bowling, Intersport, SuperPharm, Smyk, Kappahl, Fielmann and others. In addition the lease agreements have been already singed with such retailers as: Piotr & Paweł, C&A, Triumph, Deichmann, Empik, CCC, Apart, Wojas and many others.
 
NoVa Park, located on ul. Przemysłowa and ul. Grobla in Gorzów Wielkopolski, will be a regional and the largest shopping gallery in the 100 km radius and the largest in the Lubuskie Voivodship. It will be l. On the area of 32 400 sqm GLA (total area is 75 000 sqm) there will be 140 retail/service units including 14 restaurants. For the convenience of shoppers there will be a free parking with 910 car spaces.
 
The opening is scheduled for Q1 2012. The general contractors are Warbud and Mercury Engineering.