First VIVO! Shopping Center Opens in Piła, Poland

Immofinanz Group has recently completed its first VIVO!-branded shopping center in the Polish city of Piła.
From left to right: Mayor Piotr Glowski, Jan Mroczka (Rank Progress, Chairman of the board of directors), IMMOFINANZ Group CEO Eduard Zehetner and translator Anna Śron

From left to right: Mayor Piotr Glowski, Jan Mroczka (Rank Progress, Chairman of the board of directors), IMMOFINANZ Group CEO Eduard Zehetner and translator Anna Śron

By Balazs Szekely, Associate Editor

Piła, Poland—Immofinanz Group has recently completed its first VIVO!-branded shopping center in the Polish city of Piła and celebrated with a grand opening on Friday, October 17 and additional programs throughout the weekend. Representatives of the Piła city government, Immofinanz Group and Rank Progress were invited to the official 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 investment for IMMOFINANZ Group amounted to roughly $40.5 million or approx. 134.7 million in Polish Zloty.

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 catchment 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 includes 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 still has capacity for further tenants. This first location currently has an occupancy rate of 91 percent.

“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,” says Immofinanz CEO Eduard Zehetner. The second VIVO! shopping center is already under construction with opening  scheduled for the third quarter of next year, in Stalowa Wola—a city south-west of Poland.