Trevian creates local increase in value for retail properties with significant lease agreements
Finnish electronics retailer Verkkokauppa.com and Norwegian sporting goods retailer XXL Sports & Outdoor seek to continue growth in Finland with long-term retail property lease agreements carried out by Trevian Asset Management.
Trevian Asset Management Oy has negotiated two significant lease agreements related to expansion of the Verkkokauppa.com megastore in Pirkkala and opening of the new XXL Sports & Outdoor department store in Lahti.
The Verkkokauppa.com Pirkkala megastore, located in the Tampere region, was opened in 2006 in the shopping center Veska, which is under Trevian’s asset management. The expansion of the megastore premises will be implemented in the same location. The new expanded store will have a surface area of nearly 5 000 m2. ”We are committed to serve our growing local customer base in these reliable shopping center premises. Long-term lease in good location helps to build and maintain valuable long-term customer relations”, said Jussi Tallgren, CFO of Verkkokauppa.com.
The Norwegian sporting goods retailer XXL Sports & Outdoor has recently doubled its stores in Finland. During the past year XXL’s growth of revenue increased with 183 % in Finland, and the company has actively been looking for new locations to strengthen its growth further. With the agreement negotiated by Trevian as the owner’s representative, the new XXL store in the now leased premises in Lahti during the year 2016. ”The new store will not only increase the growth of our business but create dozens of new jobs in the region. Good premises, including both location and management of the property, add more value to our other operations”, said Managing Director of XXL Sports & Outdoor in Finland, Toni Stigzelius.
According to Trevian’s CEO Reima Södervall retail sector is one of the key areas within the company’s asset management services. Successful leasing is the most important factor in terms of adding value to commercial real estate properties. ”It is always a pleasure to see how the different needs of the different parties meet in retail property lease negotiations for locations like Lahti and Pirkkala. High occupancy rates of the retail properties as well as stable and committed tenants not only enliven the region locally but increase the value of the properties themselves”, said CEO Södervall.
For more information:
Reima Södervall, CEO, tel. +358 50 362 7400, Email: firstname.lastname@example.org
Trevian Asset Management is a Finnish investment and asset management company specializing in commercial properties. The company produces actively managed real estate equity funds and asset management services optimized for its customers with current assets under management of approximately EUR 850 million. The services are focused especially for institutional real estate investors, banks and other professional investors. For more information, please visit www.trevian.fi/en.