Argo Capital expands commercial center in Iasi with EUR 33 mln

Argo Capital Property, one of the largest owners of commercial centers in Central and Eastern Europe, will expand the shopping center Era Park in Iasi by 30,000 sqm. After the work is completed, Era Park will have a total rentable area of almost 80,000 sqm, and the tenant mix will include 90 stores. The total value of the investment amounts to some EUR 33 million. Era Park includes a Carrefour hypermarket, a DIY store Praktiker, the sports retailer Decathlon, an Altex store, as well as brands such as Mobexpert, Kare Design, Rovere Mobili and Nobilia, which, together with Jysk, form the Home Centre. “The extension will be complemented by a suite of well know fashion retailers. Rising footfall and a changing customer profile are also leading us to add a multi-screen (9 screens) cinema and to enlarge the gastronomic offer, which is these days more crucial to our customers,” said Dennis Selinas, CEO Argo Capital Management Property. DTZ Echinox has been selected as the consultant for this project. editor@romania-insider.com (photo source: Argocapitalproperty.com)