Arcona Property Fund N.V. leases to Netto in Lodz
4 October 2021
Arcona Property Fund N.V., a listed fund that invests in commercial real estate in Central Europe, has completed the previously announced 12-year lease with Netto for its retail location in Lodz, Poland.
As published on June 16, Arcona Property Fund has reached an agreement with Netto to lease 1,100 m2 of retail space which will become available after Tesco's departure. This agreement has now been definitively signed and will run until December 2033 (plus an option to extend for a further five years). The annual rent is more than EUR 100,000. Netto is responsible for the internal refurbishment of the rented space. Arcona Property Fund is renovating the facade.
Netto is a Danish retail chain with more than 1,200 stores in Poland, Germany and Denmark. It is part of the Salling Group, Denmark's largest retailer. For 2020, the Salling Group reported a turnover of more than DKK 60 billion, an increase of 7% compared to 2019 and a net operating profit of more than DKK 2.8 billion.
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Arcona Property Fund N.V. leases to Netto in Lodz 4 October 2021 |
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