6/5/2024
M Core announces project in Brzeziny, a retail park to be rebranded under M Park.
Looking back at almost half of this year, I can confidently say that 2024 is another breakthrough year for LCP. By shifting into the proverbial fifth gear, illustrated by new projects—those we've already opened or will soon open, as well as those we'll announce soon—we've achieved our intended development pace, which we plan to maintain over the coming years.
The cooperation model we have adopted with Genesis Property fits perfectly into our strategic goals. Thanks to a partnership approach, we efficiently finalized the transaction regarding Brzeziny, thus maintaining the original project timeline, with an opening in February 2025
Magdalena Kowalewska, Chief Operating Officer, LCP Properties in Poland
LCP Properties part of M Core, one of the leading investors and developers in the Polish retail park market, has finalised the purchase of a land plot for a future M Park from Genesis Property.
This plot has a building permit and is located in a city Brzeziny (Łódź voivodeship). M Park Brzeziny will offer over 6,000 sqm of leasable space with 16 tenants. The opening of the retail park is planned for early 2025.
M Park Brzeziny is being built on Okrzei Street, right next to national road number 715, which runs through the center of the town towards Koluszki to the south and Stryków to the north. The site is in close proximity to numerous multi-family residential buildings and other planned housing investments.
There will be a spacious parking lot directly in front of M Park Brzeziny, equipped with electric chargers stations. From an ESG perspective, the investment aims to obtain a BREEAM certification at the Very Good level.
The agreement between LCP and Genesis Property stipulates that the seller will be responsible for both the construction of the retail park and its commercialization. Leases with tenants such as Aldi, Sinsay, Rossmann, Pepco, Deichmann, and Xtreme Fitness have already been signed. Other leases are in the signing or advanced negotiation stages.
Looking back at almost half of this year, I can confidently say that 2024 is another breakthrough year for LCP. By shifting into the proverbial fifth gear, illustrated by new projects—those we've already opened or will soon open, as well as those we'll announce soon—we've achieved our intended development pace, which we plan to maintain over the coming years.
The cooperation model we have adopted with Genesis Property fits perfectly into our strategic goals. Thanks to a partnership approach, we efficiently finalized the transaction regarding Brzeziny, thus maintaining the original project timeline, with an opening in February 2025
Magdalena Kowalewska, Chief Operating Officer, LCP Properties in Poland
