The transactions were brokered by real estate consultancy company Cushman & Wakefield Echinox.
The two spaces of 8,300 sqm and 13,000 sqm respectively are located within the Supernova Lujerului and Supernova Pantelimon commercial galleries.
Supernova Lujerului and Supernova Pantelimon are part of the former Cora portfolio of 6 properties which Supernova acquired in 2021 following a sale and leaseback transaction, properties which have either been or are due to be modernized and rebranded. “(…) These 2 units, strategically positioned in some of the most densely populated areas in Bucharest, will integrate very well in both Leroy Merlin’s existing portfolio in the city and also in the tenant mix Supernova aims to provide to its customers by reshaping the 2 shopping galleries. The DIY segment has been one of the retail market’s top performers in recent years, showing resilience in challenging conditions such as high inflation, declining consumption and increasing interest rates. Furthermore, we believe the local DIY market will continue to expand, thus creating the premises for new investments,” said Bogdan Marcu, Partner Capital Markets at Cushman & Wakefield Echinox. Supernova Group is an international company focusing on the development and management of commercial real estate properties in Austria, Slovenia, Croatia, Romania and Slovakia. The group’s current portfolio comprises of over 110 properties with a gross value of €2.2 billion. Supernova entered the Romanian market in November 2020 by acquiring the Jupiter City shopping center in Pitesti, which has since been rebranded and completely refurbished. Additionally, the Supernova Group has also purchased the former Cora portfolio in 2021, consisting of 6 shopping centers located in Bucharest (three locations), Constanta, Bacau, and Drobeta Turnu Severin. “(…) Considering that Supernova Lujerului will also undergo renovations and modernizations in the coming period, we expect that the arrival of such a valuable partner like Leroy Merlin will translate into a more powerful shopping center which will become one of the most attractive destinations in the area (…),” said Markus Pinggera, Managing Director at Supernova Group. “(…) By working with Supernova and by opening two new stores in Bucharest, we are strengthening our business model: investing in people, expanding the network, digitalization and sustainability (…),” stated Mathieu Bauduin, CEO Leroy Merlin Romania. Leroy Merlin currently operates four stores in Bucharest, and the latest was opened in 2020. There are 21 Leroy Merlin stores in Romania, with more 3,000 employees in 15 cities.