JLL advises the seller on the sale of Retail Centre Espoontori to Kesko
Retail Centre Espoontori is located in fast developing suburb of Espoo Centre and caters to local residents by providing a wide variety of daily goods and services.
Anchor tenants of Espoontori are K-Supermarket, Tokmanni and pharmacy. The retail centre is conveniently located adjacent to the commuter train station which will see a significant increase in traffic volumes in the coming years with new urban train track and residential development in the area. The retail centre is planned to undergo major expansion investment which will further improve the daily goods offering in the area.
Mika Sivula, District Director for Southern Finland, Kesko Oyj: ”Espoo Centre has been designated as a development area for a compact city center in Espoo's strategy, situated along a good rail transport connection. Currently, approximately 40,000 residents live within a three-kilometer radius of Espoo Centre. Thanks to the acquisition of Espoontori, we can, in collaboration with the city and other shareholders, contribute to the development of even stronger commercial services for the residents of this developing area right next to the railway station”
Antti Pelli, Senior Director, Capital Markets, JLL Finland “We are extremely happy to have been able to advise the seller in completing this transaction despite challenging market conditions. Demand for daily goods focused retail centres along good traffic connections remains strong. We are pleased to continue building our strong track record in the retail segment and to be able to leverage JLL’s strong retail expertise. We want to thank the seller and the buyer for a smooth transaction”
JLL acted as the seller’s sole commercial advisor in the transaction. Borenius Attorneys acted as the seller’s legal advisor.
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