Global real estate firm Cushman & Wakefield closed the first retail transaction by securing premium retail space for Ara Shoes in the first phase of Premier Outlet in Biatorbágy, Hungary, according to a press release issued yesterday.
The Hungarian subsidiary of Ara Shoes opened a 228 sqm unit in the outlet in March, selling two main brands of the Ara Group, Ara and Lloyd, the press statement said. Now the group has a wider selection of premium products for women and men on offer.
“With more and more international brands showing interest in opening normal and outlet units on the outskirts of the capital we can say, that the outlet market is finally picking up in Hungary”, Viktória Szabó, Partner and Head of Retail at Cushman & Wakefield in Budapest, said. “With this new Ara unit the tenant mix of this high quality outlet center has further improved and we are confident that this will attract more quality tenants to this area.”