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Avrig 35: Significant Retail Launchings in Pitesti
29.04.2008
Avrig 35 announces the opening of the Bricostore on December 7th and the Iris Shopping Mall in Pitesti, for spring 2008. The overall investment of fifty million Euros is Avrig's biggest outside of Bucharest. The building began in March of 2007 and the first phase of the project was delivered on time with the opening of the Auchan Pitesti and galleria on October, 30th, 2007. The second phase will be finished on December 7th, 2007, with the completion of the Bricostore and will conclude with the grand opening of the Iris Shopping Mall.
The Iris Shopping Mall has 7,109 sqm of Gross Letting Area (GLA) with around 43 shops spread on a single level with a total built area of over 13,225 sqm. The shopping mall has three major entrances and a food court in the center. The merchandise mix will consist of apparel, health and beauty services, food and beverage, personal goods, and leisure. The built area is approximately 41,400 sqm and the total surface of the site is 107,500 sqm. The project has 1500 parking spaces and upon completion of the final phase in 2008, additional parking will be available for anchor tenants in need of leasable areas of more than 1000sqm. Including the hypermarket and Bricostore, this is the one of the biggest retail developments to date in Arges County.
The Auchan, Bricostore and Iris Shopping Mall are located in the southern part of Pitesti and the project is placed on the city limits, which are the most important crossroads in the Pitesti area giving this complex the best location in the city. The crossroads are Bucharest-Pitesti A1, the Petrochimistilor Boulevard, the busiest and most vital route in Pitesti, traversing the city from the south to the north, and DN65B, connecting A1 motorway with E574 towards Craiova, via Slatina. The Petrochimistilor Boulevard connects the northern and the southern parts of Pitesti via the central area, providing high speed access and fluent car traffic all the time on two to three lanes each way.
"Avrig 35 is very pleased with this development and looks forward to providing the people of Pitesti and the surrounding areas with a clean, efficient, and enjoyable shopping experience." Matthew Proskine, Avrig 35 Director of Communications and Marketing "We have a large demand for spaces in the Iris Shopping Mall some openings are still available but they are filling up fast."
"The opening of this retail development is an excellent opportunity for the Pitesti region and Arges County, because there is a high demand for high quality retail space in this area." Cristian Ustinescu, DTZ Echinox Capital Markets Manager
Avrig 35 was founded in 1999 by four American investors and is a pioneer in the Romanian real estate development industry. The company draws upon the significant real estate experience of its owners to approach ambitious projects in different areas of the Romanian market ranging from the development of a diverse portfolio of Class A office space, retail, residential and industrial properties.
Avrig 35 has won awards for Developer and Development of the year 2005, The ECCS European Steel Design 2005 Award and is the developer of the 40,000 sqm international award winning architectural landmark Charles de Gaulle Plaza. Avrig will also be announcing, in the near future, details on a twelve story, sixty three unit, residential building on Mihai Eminescu near Piata Romana in downtown Bucharest. For more details on Avrig 35 and all of our various projects please visit our website at www.avrig.ro.
For further information contact:
Matthew Proskine Oana Lungu
Communications and Marketing Director Senior Marketing Executive
Avrig 35 DTZ Echinox
Mobile:+40.724.224.580 Mobile: +40 749 99 99 11
Email: matthew.proskine@avrig35.ro Email: oana.lungu@dtz.ro
Web : www.avrig35.ro Web : www.dtz.com/ro
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Avrig 35 Group
Avrig 35 Group was established in 1999 by four American investors. Since its inception the Group has grown to become one of the leading real estate developers in Romania. The company draws upon the extensive experience of its owners and employees to approach ambitious projects in different sectors of the Romanian market. Our ability to deliver exceptional services and value to our clients derives from the strength of our investment analysts and construction professionals working together towards a common goal.
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