Eva was one of the main shopping destinations of Bucharest during the communist regime, along with Unirea Shopping Center, Cocor, Magazinul Bucuresti (across the street from Cocor), Magazinul Victoria, Vulturul de mare, Magazinul Obor and Adam.
The owner of the space where Mega Image will open its new store is Greek-held private equity real estate investment management firm BlueHouse, one of the owners of the City Gate office towers in Piata Presei, northern Bucharest.
The Greek investors bought the space in 2007 but had no luck with long-term tenants, as retailers like Diverta and Molecule-F operated there for a while and left because of too high rent or lower than expected sales. The 1,600 square meter space sat empty for a long time awaiting a new tenant. At an average rent of EUR15-EUR20/square meter, Mega Image could pay EUR22,500 to EUR30,000 per month for the Eva space, according to ZF estimates.
Mega Image’s new store will open in an area in the center of Bucharest populated by bookstores, accessory shops, pharmacies and pretzel shops. Somewhere farther down the boulevard, closer to the University, another Mega Image store is already operational. This Belgian-held chain is the largest in Romania with more than 350 stores, 90% of which in Bucharest.
(English version by Loredana Fratila-Cristescu)