More than 12,000 sqm of new stores in M1 centers Poland

Finalizing agreements with new tenants for a total area of more than 12,000 sqm, renegotiating 72 contracts and business talks with representatives of brands interested in entering M1 shopping centers in Poland in 2023 - METRO PROPERTIES summarizes the past year.

"Many tenants decided not to slow down and look boldly into the future, resulting in the opening of stores of well-known and respected brands in our facilities. Thus, for another year in a row, we recorded a marginal level of vacancies. Indeed, we have not been without difficult experiences either. Faced with an unstable macroeconomic situation and drained budgets after the pandemic, some of our business partners decided to halt development and observe the changes taking place before making further decisions. There were also those who were forced to close down," says Justyna Hara, Head of Leasing at METRO PROPERTIES.

An important event of the past year was the opening of the OBI DIY store in M1 Częstochowa on an area of over 7,700m2, offering 35,000 products. At all M1 locations Poland, contracts for LPP Group clothing stores have been extended. On the continuation of cooperation with the popular centers, managed by METRO PROPERTIES, has also been decided by TK Maxx.

In the past year, a total of 27 new lease agreements for a total area of more than 12,000 sqm were concluded. Seventy-two expiring contracts were also renewed, covering an area of 27,000 sqm.

Among the new tenants, representatives of brands from the broadly defined fashion and home furnishings sectors prevailed, but there were also planned openings of new jewelry, accessories, cosmetics
and electronics. In Radom, the suburban city of Marki and Częstochowa, customers are being welcomed by Yes jewelry stores. Also in Marki, another new Tefal home goods store has opened in the chain. A modern Sony Center electronics store has opened in Cracow, as well as a children's clothing store

Okaidi brand, and a popular Hebe drugstore. In Częstochowa, Marki and Poznań, the fashion offer for women was enriched by Monnari stores. In Zabrze, on the other hand, an Olimp Meble store has opened with a diverse range of Polish furniture and accessories suppliers. The popular M1 shopping center chain, managed by METRO PROPERTIES, is opening the year with 99 percent occupancy.

"Despite the anxiety over the war and the negative impact of inflation on household budgets, customers visited our shopping centers in large numbers and were eager to shop, which had a positive impact on tenants' turnover. Tired of the pandemic restrictions in previous years, customers valued the direct shopping experience. The results of many of our tenants turned out to be record-breaking and exceeded the values of 2019. We would like to thank all our business partners very much for their effective, good cooperation," Justyna Hara concluded.

Last year, back in January, a new store with Italian clothing brand Unisono appeared in the M1 Czeladz center, expanding the offer of women's fashion. The following month, a Dom Wina store is scheduled to open in M1 Krakow. The debut of a Douglas perfumery in M1 Radom is also scheduled for the first quarter of this year. Several more lease agreements are being finalized in parallel.

M1 is a chain of nine shopping centers located in central and southern Poland.
It is 450,000 sqm of retail space, where its stores and service outlets are run by
650 tenants of almost all industries.