Securing One of Europe’s Most Sought-After Retailers

A convincing case and a mutually beneficial lease agreement secured a high-profile anchor for a new shopping center concept.

Property Name: Market Central Da Vinci
Location:Rome, Italy
Property Type:Retail
Service Type:Leasing
Size:200,000-m² total; 57,000-m² rentable
Owner:GWM Group
Website:http://www.parcocommercialedavinci.com/en/
Main Tenants:H&M, Leroy Merlin, Nike, Decathlon, Benetton
Quote:“Our senior retail team members used their deep knowledge to demonstrate the benefits of becoming a tenant.”

Challenge

One of the most highly sought-after retail tenants in Europe is Hennes & Mauritz (H&M), which normally only opens stores in high-end, enclosed shopping centers. Some of the shopping centers developed by AIG and White Star Partners are open-air centers, a concept that H&M had concerns about even though the design was borrowed from the United States, where open-air centers have been highly successful.

Solution

To get such a successful anchor for one of our centers, we drew upon the acute knowledge of our most senior retail team members, who presented a convincing case to H&M and helped craft a lease agreement that could work for both parties.

Results

H&M has been a tenant at Market Central Da Vinci since the center’s opening in 2008. The relationship has exceeded expectations and led to H&M opening in our other centers (e.g. Galeria Słoneczna, Radom, Poland in 2011).