LCP Properties leases 6,000 sqm of space in its properties in the first quarter of 2024

LCP Properties leases 6,000 sqm of space in its properties in the first quarter of 2024

LCP Properties, one of the leading investors and developers in the Polish retail park market, as well as expanding its activities in the logistics sector – SBU, signed a total of 21 lease agreements for 6,000 sqm in the first quarter of this year. Over 3,600 sqm of this total are new agreements, while the remaining part consists of extensions of existing leases.

LCP owns over 95 properties, including retail parks under the brand M Park and logistics facilities – Multipark, located throughout the country. Key events for the company in the first quarter included two openings – M Park retail parks in Iława and Reda. During this time, the company also obtained a building permit for Multipark Gdańsk and laid the cornerstone for the future, 50th M Park in Pionki.

From the leasing processes perspective, the largest new agreements were signed with the brand Sinsay for the development project M Park Olszyn (788 sqm) as well as existing ones: M Park Elbląg (640 sqm) and M Park Reda (568 sqm).

In the case of lease extensions, the largest agreement concerned Black Red White for M Park Tarnów (1,192 sqm).

We have scored a strong start to the year, during which our leasing team focused on signing agreements for ongoing development projects and filling available space resulting from recent minor market fluctuations on the side of selected retail tenants, which all investors and developers had to face. Thanks to a quick and efficient response, we continue to maintain a very high level of commercialization across our entire portfolio, at 97%", commented Katarzyna Szeleźnik, Leasing & Acquisitions Director at LCP Properties in Poland.

In the current year, LCP Properties plans to open at least two more retail parks – M Park, in Olsztyn and Pionki, as well as the opening of two SBUs (Small Business Units) under the Multipark brand in Gdańsk and Sosnowiec. Additionally, in the coming months, the company will announce the start of at least four more development projects, carried out as part of the established expansion of the M Park brand in Poland.