TREI Real Estate opens two additional “VENDO Parks”

TREI Real Estate opens two additional “VENDO Parks”

TREI Real Estate GmbH, the real estate subsidiary of the Tengelman Group opened two additional specialty retail centres under the name “VENDO Park” in Bánovce, Slovakia and Jablonec, Czech Republic on 29/11/2012. “TREI’s intensive preliminary work for the implementation of the VENDO Park concept is now bearing fruit. With the opening of the first specialty retail centres in the Czech Republic, Slovakia and soon in Poland, TREI is once again demonstrating its skill as a real estate partner of retail businesses in Eastern Europe”, said Karl-Erivan W. Haub, Managing Director and personally liable partner of the Tengelman Group. The “VENDO Park” in Bánovce is the company’s first property to open in Slovakia. That now makes a total of three openings realised this year.  A number of projects are also planned for the coming year. “Our development pipeline for 2013 is full and we will foreseeably open five additional ‘VENDO Parks’. In addition to our first two openings in Poland, two more in Slovakia and one in the Czech Republic are planned”, said Urban Plattes, CEO of TREI Real Estate GmbH.

All “VENDO Parks” are fully leased:  The broad assortment spectrum is comprised of renowned international and national lessees from the the non-food area, including Deichmann, dm, Sportissimo, KiK and TAKKO. The new retail centres are rounded out with the nearby establishment of a high-turnover hypermarket. The Bánovce “VENDO Park” is approximately 130 km northeast of Bratislava (Slovakia) and has a leasing area of approximately 3,800 m² with around 100 dedicated parking spaces. The “VENDO Park” in Jablonec is situated approximately 100 km northeast of Prague. There are roughly 45,000 residents in the core catchment area. With a leasing area of approximately 5,500 m² and 145 dedicated parking spaces, this “VENDO Park” is the largest of the specialty retail centres developed by TREI Real Estate thus far.

TREI Real Estate

TREI Real Estate GmbH is the management company of the real estate holdings of the Tengelmann Group. In addition to Germany, TREI is operative in six other European countries. Over 80 per cent of the holdings portfolio is leased to long-term lessees outside the corporate group. The leasing volume per year is around 100 million euro. In addition to property management, the core business areas of TREI also include the development of retail shopping centres domestically and abroad. The TREI specialty retail centres in the Czech Republic, Slovakia and Poland are developed, constructed and leased under the VENDO PARK brand name. There are currently more than 20 projects in development both domestically and abroad.

Tengelmann Group

The Tengelmann Group is a retail company whose business is spread across a number of different industries and international marketplaces and whose subsidiaries include OBI, KiK, Kaiser’s Tengelmann, baby-markt.de and Plus Online. The real estate company TREI Real Estate, as well as the holding company Tengelmann Ventures, which has been investing in promising online start-ups for several years, also belong to the corporate group. This family-owned business was established in 1867 in Mülheim an der Ruhr and is currently managed by the fifth generation of the family. Operating in 15 different countries and employing a staff of more than 80,000 people who work in over 4,000 stores, the company most recently turned over annual sales totaling EUR 10bn.

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