The deal was brokered by DTZ Echinox.
The multi-brand retailer entered Romania in 2008 and currently operates four stores: three in Bucharest in Baneasa Shopping City, Mega Mall and Promenada Mall and one in Constanta, in Maritimo Shopping Center. The fifth P&C store will open in the newest project owned by NEPI – Shopping City Timisoara, which was inaugurated at the end of March this year.
Peek & Cloppenburg, headquartered in Dusseldorf and Vienna, operates 118 stores in Europe – 68 in Germany and 50 outside Germany.
Shopping City Timisoara, an over EUR80 million investment, is the newest project in NEPI’s portfolio and also the largest modern shopping center in western Romania, with a lettable area of 72,000 square meters and 2,700 parking spaces.
DTZ Echinox has leased over 50,000 sqm in NEPI projects in recent years.