The Chalandri Top Park at Kennedy Square is the latest addition to the real estate portfolio of Trade Estates REIC. The property was acquired by Ten Brinke Hellas in December 2022, with a total price of 6.5 million euros.
This is the eighth commercial park to be added to the company’s real estate portfolio. Its construction was completed in November 2022, on a plot of 2,896 sq.m., with a total commercial area of 3,992 sq.m. and is a daily destination for thousands of consumers, as it is located in the heart of Chalandri and is leased to two of the largest businesses on the market, AB Vassilopoulos and McDonald’s.
This particular park was developed with aesthetic and functional terms that are in perfect harmony with the philosophy of Trade Estates for customer service as well as with the specifications of the new commercial identity Top Parks. Its operation complies with the most modern environmental conditions, with green developments and photovoltaics on the roof as well as electric car charging stations in the parking lots.
Trade Estates is implementing a dynamic investment plan, leveraging its experience and unique expertise in the development of commercial parks. Our company has already planned investment moves that will lead to an increase in the value of the portfolio over a four-year period to 550 million euros, with a doubling of the number of properties and the rental area. At the same time, we evaluate new projects with the potential to increase the value of the portfolio to the level of 700 million euros by 2027. Guided by easy access, the basic consumer needs of the family and value retailing, we aim at places that serve thousands of consumers such as Chalandri and we develop commercial parks which host the biggest retail brands, offering immediacy, quality and comfort in everyday shopping” states the CEO of Trade Estates, Dimitris Papoulis, adding that “we will continue to create important commercial developments and also pursue new acquisitions in Greece, Bulgaria and Cyprus, in order to enrich the portfolio of our unique commercial properties, but also to develop our new commercial identity “Top Parks
About Top Parks
TOP PARKS are developed by Trade Estates and are commercial parks with unique features that are the top destination for the whole family. Today, the TOP PARKS portfolio includes 8 Retail Parks in Chalandri, Piraeus, Rentis, Thessaloniki (IKEA Retail Park & Florida 1), Ioannina, Cyprus and Bulgaria. These are leading commercial destinations, which have been developed based on the tripartite of easy and quick access for the visitor, serving the primary needs of the family and offering a wide range of products at competitive prices. TOP PARKS operate based on the values of sustainable development and circular economy standards mandated by ESG principles, with respect for the local community and the environment
About TRADE ESTATES REIC
Trade Estates REIC, a Fourlis Group company, specializes in the development of leading commercial parks and new generation Logistics centers. It is one of the largest real estate investment companies in Southeast Europe, with investment activity in Greece, Cyprus and Bulgaria. Trade Estates’ portfolio currently consists of 10 Commercial Properties, 8 Retail Parks and 2 new generation Logistics Centers, while its investment plan includes the creation of modern retail parks throughout Greece, with the flagship commercial park at ‘The Ellinikon Commercial Hub’ ‘ but also developments in new areas such as Patras, Crete and Spata. According to the company’s development plan, in 2026 it will have a total of 18 commercial properties, with a low environmental footprint, with high yields and strong long-term tenants.