CBRE Global Investors acquired the Letňany Shopping Center in Prague from Tesco. Opened in 1999, Letňany offers 63,478 sqm of retail space, 3,551 sqm of offices, a petrol station and 3,200 parking spaces. The center is anchored by Tesco’s flagships store in the Czech Republic, which recently underwent a modernization and redesign. Tesco signed a long-term lease for the hypermarket and office space totaling 16,315 sqm. The center has 160 units, and anchor tenants include Cinema City, H&M, C&A, Datart, Zara and SportsDirect. “CEE is a very important region for our business. Our local team completed approximately €1bn of transactions during 2016,” said John Mulqueen, head of transactions for EMEA at CBRE Global Investors. “We continue to have a strong appetite for assets of this quality and a significant amount of capital to invest in the region on behalf of our clients during 2017.” Clifford Chance’s real estate team have advised long-standing client CBRE Global Investors on the acquisition of shopping centre OC Letňany on behalf of a separate account client of CBRE.
