The property in Brasov, which was previously occupied by a Praktiker store, consists of a building of about 7,500 square meters and a land plot of approximately 2 hectares.
Leroy Merlin already has a store in Brasov’s northern area and the new location will help serve customer sin the southern part of the city and mountain resorts in the Prahova Valley.
The deal was brokered by real estate consultancy company Cushman & Wakefield Echinox, which advised Mitiska REIM in the sale.
“This transaction proves that the real estate market is still active and there is a high interest from investors to consolidate their asset portfolio in Romania,” said Alecsandra Atanasiu, Transaction Support Land & Industrial at Cushman & Wakefield Echinox.
Leroy Merlin recently announced plans to expand its network in Romania with a new store at the beginning of 2021.
Leroy Merlin posted a turnover of RON1.9 billion in 2019, up 21% on the year, and its net profit stood at RON167 million, nearly four times higher than in 2018. the retailer had 2,258 employees in 2019.
Mitiska, a Belgian investor specialized in the development and management of retail parks, has 21 operational projects on the local market.