New report shows surge in Polish retail parks and investor focus on sustainability

Trei Real Estate GmbH, an international developer and asset manager, together with Jones Lang LaSalle Poland (JLL), has released their fifth annual report on retail parks and convenience centres in Poland. The report underscores retail parks as a dominant trend in Poland’s commercial real estate market, driven by the growing need for convenient, accessible shopping destinations near residential areas. Between 2018 and mid-2024, completed retail park stock increased fivefold compared to the 2000–2005 period, and the first half of 2024 alone saw over 400,000 square meters of new retail park space – a record high. In comparison, traditional shopping centres added only 50,000 square meters during the same period. Notably, the transaction volume in the retail sector surged by 149% in the first half of 2024, surpassing the five-year average by 16%.

Retail Parks Gain Popularity as Prime Investment
“Retail parks and convenience centres are increasingly preferred by expanding retailers and investors alike due to their flexibility, faster development timelines, and location near residential neighborhoods,” commented Pepijn Morshuis, CEO of Trei Real Estate. “Their adaptability makes them ideal for future expansions, a key consideration for growing brands.”

Affordable Rents Attract Lifestyle Brands
Retail parks also present a cost-effective option, with rents ranging from €8 to €20 per square meter per month, depending on location and amenities. This makes them a more affordable choice for expanding chains compared to traditional shopping centres, where rent can be double. In 2024, popular lifestyle brands such as Sphinx, Starbucks, Apart, Yes, and Verona opened their first retail park stores, highlighting the appeal of retail parks for diverse brands seeking accessible locations.

Expanding into Small Towns and Mid-Sized Cities
Poland’s smaller towns and mid-sized cities are emerging as hotspots for new developments. In the first half of 2024, 22 new retail parks opened, with nearly half located in cities of fewer than 100,000 residents. With over 3 million residents in Poland’s 350 cities of 5,000 to 15,000 people lacking modern retail access, these regions hold considerable growth potential, especially as development land is more readily available.

Jacek Wesołowski, Managing Director of Trei Real Estate Poland, stated, “The retail park market in Poland still has room for growth, especially in smaller towns. A strengthening economy and favorable financing terms will likely sustain investor interest in these areas.”

Commitment to Sustainable Development
Sustainability remains central to new retail park developments, with nearly 60% of Poland’s retail stock certified under LEED or BREEAM standards. As environmentally conscious consumers drive demand, developers like Trei are prioritizing ESG initiatives from the planning phase through to operation. Trei’s Vendo Park brand, for example, includes features such as photovoltaic systems and EV charging stations in their facilities, and all projects aim for BREEAM certification.

“Sustainability is already an integral part of today’s retail parks,” added Wesołowski. “We are committed to ESG standards across our Vendo Park brand, equipping each development with the latest in green technology to meet evolving consumer expectations.”

With 38 Vendo Parks in its portfolio and plans for four additional openings before year-end, Trei Real Estate stands among Poland’s leading retail park developers, actively shaping the future of sustainable retail in the region.

The full-length survey is available for download under the link below:

https://www.treirealestate.com/medien/downloads/Retail_Park_Report/EN_Retail_Park_Report_2024.pdf