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News Release

Bucharest

JLL is the property management company of Liberty Centre

HappyCinema, the newest tenant of the shopping centre


International advisory firm JLL has been selected by the owners of the Liberty Center Mall as property and asset manager of the shopping center located in Progresului Street (South part of Bucharest). JLL's responsibilities comprise from creating an optimal tenant mix and implementing sustained promotion activities in order to revitalize the shopping center.

JLL successfully concluded the first leasing contract by attracting the Romanian cinema operator HAPPYCINEMA in the shopping center. Through this contract JLL significantly improves the tenant mixt of the Liberty Centre and also creates the proper environment for attracting other important brands in the shopping centre.

HAPPYCINEMA will open next month and will be expecting its customers with 7 screens within 3,338 sqm. This is the first cinema operated in Bucharest by HAPPYCINEMA, which currently has cinemas across 4 cities in Romania.

"Liberty Center is among the first shopping centers in Bucharest, opened just before the financial crisis in 2008. The mall has a visible location and its size is optimal considering the demand in the area. For JLL, the take-over of the management for Liberty Center is a challenge and we believe that the experience we have in the property and asset management services will help us to reposition the shopping center in the area it serves", comments Mariana Stamate, head of Property Management Department, JLL.

The shopping center, with a lettable area of 25,700 sqm, has over 60 tenants – fashion, food and entertainment. Among the anchor-tenants are Billa, Altex, Adidas, Deichmann, Kenvelo, Lee Cooper, Sephora, Steilmann, CCC, KFC, McDonalds and Spring Time.

Liberty Center was completed in November 2008, in the South part of Bucharest and is located at the junction of two main streets – Calea Rahova and Progresului. The property is 2 km away from Unirii Square and has excellent access to the public transportation system (5 tram lines and 2 bus lines) which facilitates the connection between shopping center and the main areas of the city. Also, Liberty Center Mall offers over 600 parking places.

JLL is currently managing a portfolio of properties with a total size of 200,000 sqm, among which Colosseum Retail Park, Green Gate office building and 9 industrial projects.