Trade Estates REIC welcomes Pepco stores to Greece
Trade Estates REIC, a FOURLIS Group company, welcomes the launch of Pepco chain stores in Greece. The first Pepco store will start its operation in October 2022 at Piraeus Retail Park sealing the strategic co-operation between the two companies.
Piraeus Retail Park is located at a hub of the Southwestern Suburbs of Athens, at the crossroads of Piraeus Street and Kifissou Street, on the borders of the three municipalities of Moschato, Renti and Neo Faliro. It covers an area of 14,895 sq.m., of which 13.300 sq.m. are dedicated to retail and 280 are underground parking spaces. Currently, there are already 4 Major retail Group stores operating (AB Vasilopoulos, McDonald’s, Moustakas, LC Waikiki) and by the end of 2022, will be presented another 6 of the latest concepts of International and Greek companies active in the broader sector of value retailing.
Mr Dimitris Papoulis, Member of the BoD of Trade Estates and President of the Investment Committee, stated: “We are excited about the opening of the first Pepco store in Greece, at Trade Estates’ Piraeus Retail Park. Observing Pepco and the impressive performance of its model, as well as its rapid expansion in Europe in recent years, we are certain of the company’s success in Greece. We are looking forward to developing a multifaceted relationship and we will soon be announcing new co-operations.
The goal of Trade Estates is to create compelling retail developments based on the three fold characteristics of easy and fast visitor access, serving primary family needs, and providing products at competitive prices. Committed to sustainable development principles and ESG, our company aims to become the leader in investment and development of real estate with specialization in retail parks and omnichannel logistics in Greece, Cyprus, and Bulgaria.”
At the same time, Mrs. Anca Radu, Pepco Retail Director stated: “Our Company, strongly believes in Greek Market powerful prospects where we would like to follow a dynamic growth plan. The opening of our first Greek store at Piraeus Retail Park is not a coincidence, and it reflects our belief in Trade Estates vision and management skills, due to the company’s specialisation in the development and management of Retail Parks, as well as its experience in the retail industry that classifies the company as a reliable partner for our future development in Greece. We believe that Pepco’s model will provide Greeks with a new shopping option that will fascinate them!”
Pepco is an apparel (for women, men, and children) and household product chain, present in 16 European countries with almost 3000 stores, and more than 24,000 employees. Pepco stores’ main advantage is its low prices, which are mentioned unprompted by the majority of its shoppers. They provide families with everything they need and want for a functional home, including children’s clothing, as well as men’s and
women’s clothing, fashion accessories, footwear, cosmetics, toys, household goods, decorative items, and soft furniture. Pepco stores are comfortable and provide professional and friendly service.
About TRADE ESTATES REIC
Trade Estates REIC is one of the largest real estate investment companies in Greece. It is active in 3 Southeastern European countries, namely Greece, Cyprus, and Bulgaria, and it has at its disposal a large portfolio of commercial properties and Logistics Centers. The Company’s purpose is developing new generation Retail Parks and Logistics Centers. Its portfolio consists of high-return properties with reliable and strong tenants, while it aims at further growth through the implementation of a high return and low environmental impact investment plan.