Stop Shop Celebrates 20th Anniversary in Hungary
The first Stop Shop retail park opened in Hungary 20 years ago, followed by a number of shopping centers in the capital and in the countryside within a few years, and today the portfolio has expanded to 14 locations nationwide, according to a press release sent to the Budapest Business Journal.
The last vacant Stop Shop unit was leased this spring, elevating the occupancy rate of the local Stop Shop portfolio to 100%.
The first Stop Shop shopping park was opened in Budapest (Hűvösvölgy) in 2002. By 2009, 11 more parks had opened their doors to shoppers, including in Debrecen, Miskolc, Nagykanizsa, and Veszprém. In 2017, the Hungarian portfolio was expanded with two more parks during the redevelopment of the Family Centers in Hatvan and Szolnok.
With sustainability in mind, a complete portfolio transformation started in 2018, including the installation of energy-saving LED lights and electric car chargers, and the deployment of photovoltaic systems started this year. The brand has more than 270 leases in the country, covering almost 137,000 sqm.
The biggest tenants in the Hungarian Stop Shop parks include popular brands such as Spar, KiK, Takko, CCC, Deichmann, Müller, DM, and Media Markt. The entire Stop Shop portfolio currently covers more than 100 locations in ten countries with nearly 790,000 sqm of rentable space.
"We are really proud of the Stop Shop brand's 20 years of existence and continuous popularity in Hungary, and the fact that we have been part of the progress made over two decades. The ongoing positive feedback is a clear proof of this success. The brand is working well, customers like the concept, as the easily accessible Stop Shop stores provide everything they need for their shopping, and the low rental and operating costs are attractive to tenants," said Balázs Sipos, senior retail asset manager, CPI Hungary.
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