First VIVO! Shopping Center Opens in Piła, Poland

Immofinanz Group has completed its first VIVO! shopping center in the Polish city of Piła and marked the occasion with a grand opening on Oct. 17.

Immofinanz Group has recently completed its first VIVO! shopping center in the Polish city of Piła and marked the occasion with a grand opening on Oct. 17 and further programs throughout the weekend. Representatives of the Piła city government, Immofinanz Group and Rank Progress attended the ceremony.

Immofinanz Group took over the property formerly known as Galeria Piła from the Polish developer Rank Progress and finalized the sale at the end of August. The new owner changed the name of the shopping center and from now on, the facility will be called VIVO! Piła. The firm’s investment amounted to roughly $40.5 million.

The VIVO! concept’s characteristic features – such as the single-story construction and the focus on fashion and entertainment with strong anchor tenants – make it best suited for secondary cities in the Central and Eastern Europe region with 40,000 to 100,000 inhabitants and a market area with a population of at least 200,000. With respect to size, orientation and offering, Immofinanz is positioning it between its STOP.SHOP retail warehouse concept and its larger shopping centers.

This first VIVO! shopping center offers more than 258,000 square feet of selling space near Piła’s downtown area and has already signed a number of well-known tenants. Thanks to its close proximity to the railway station and the national bus station, it is well integrated in the public transportation network. 700 on-site parking spaces are also available. Carrefour, H&M, Reserved, House, CroppTown, Mohito, Sinsay, Media Expert, Deichmann, CCC, Carry, Lee-Wrangler, 4F, Levi´s-Mustang, Hebe, Gino Rossi, Ryłko, Calypso fitness Club, Martes Sport, Empik and Smyk have already joined VIVO! Piła and the property has still got capacity for further tenants. This first location currently has an occupancy rate of 91%.

“Poland is one of our key markets and the current focus of our retail development activities. As a next step, we are planning the further roll-out of VIVO! in Poland,” said Immofinanz CEO Eduard Zehetner on the opening ceremony. The second VIVO! shopping center is already under construction with opening scheduled for the third quarter of next year, in Stalowa Wola, a city in southwest of Poland.