According to data from international real estate advisory firm Cushman & Wakefield, investment volume in Poland’s retail park segment reached EUR 466 million in 2025, the highest result ever recorded for this asset class. Poland also remains the largest retail park market in Central and Eastern Europe, accounting for more than one-third of the region’s total stock. Despite this scale, the segment still has significant potential for further growth. At the same time, the increasing maturity of this format is changing investors’ approach, with greater emphasis being placed on tailor-made leasing strategies, value management and operational efficiency.
Capital is focusing on scale
In 2025, 52 transactions were recorded on the Polish retail real estate market, confirming stable investor activity. At the same time, the market is accelerating towards consolidation, reflected in increasingly large portfolio transactions. One example is the acquisition of 36 retail parks from TREI Real Estate by a joint venture between Slate Asset Management and Ares Management Corporation for more than EUR 300 million. Similar processes are also visible in Western European markets, including Germany, where one of the largest retail transactions of 2025 involved a portfolio of more than 100 retail parks.
Investor interest in this format also continued at the beginning of 2026. In the first quarter, transaction value in the retail park segment reached EUR 87.25 million, accounting for 27% of total investment activity in the retail sector.
“Retail parks accounted for EUR 466 million of invested capital in 2025, reaching the highest result in the history of the Polish market for this asset class. This confirms that they are now among the most liquid and predictable formats in the retail real estate market. Importantly, the strong start to 2026 shows that investor interest in this segment remains high. The scale of capital deployed in retail parks and the active project pipeline for 2026 lead us to believe that this is not a short-term trend, but rather the maturation of the entire market and its further integration,” says Paweł Partyka, Head of Capital Markets Poland at Cushman & Wakefield.
Poland is building a regional advantage
In the retail park segment — and beyond — Poland has achieved a leading position across the CEE region. Total stock in this format in the region currently stands at nearly 9.78 million sq m, of which more than 3.37 million sq m, or 34%, is located in Poland. In this respect, Poland significantly outpaces markets such as Romania, with 1.87 million sq m, Hungary, with 1.77 million sq m, and the Czech Republic, with 1.36 million sq m. Poland’s dominance is even more pronounced in investment plans, with the Polish market accounting for 44% of new supply currently under construction across the region.
“Throughout 2025, around 545,000 sq m of new space was delivered to the market, with retail parks accounting for 75% of this supply. At the end of the fourth quarter, approximately 644,000 sq m remained under construction, with retail parks representing as much as 84% of that volume. In addition, only one in four square metres of new space is being developed in agglomerations with more than 400,000 inhabitants,” comments Ewa Derlatka-Chilewicz, Head of Research at Cushman & Wakefield.
The end of repetitive models
The growing scale of the market also means a higher level of maturity. In practice, this should translate into a move away from simple, repetitive leasing models. As a result, a retail park will no longer be a universal set of the same few tenant categories, but will increasingly function as a local centre for everyday services and shopping.
“Today, the tenant mix for a retail park cannot be copied from another location. Its effectiveness is determined by an analysis of the real needs of residents, purchasing power and the functions consumers actually want. We can see this particularly clearly in the context of the so-called silver economy. The 40+ and 50+ generations, which currently have the greatest purchasing power, value pragmatism and time savings. That is why, alongside grocery and fashion operators, retail parks increasingly include healthcare services, pharmacies, beauty outlets, fitness facilities and pet stores. In a well-designed retail park, it is not about the number of stores, but about the relevance of the offer — selecting brands and services that respond to the real needs of customers in a given location and build regular, everyday footfall,” says Michał Masztakowski, Head of Retail at Cushman & Wakefield.
Owners increasingly expect a model that combines leasing, property management and marketing into one coherent process focused on increasing asset value. In the case of growing portfolios, competitive advantage is no longer determined merely by owning assets, but by the ability to maintain occupancy, control operating costs and build customer loyalty.
“In retail parks, operational efficiency must go hand in hand with customer experience. Today, managing such an asset is not only about efficient operations, but also about a well-thought-out marketing strategy, strengthening local recognition and activities that translate into high footfall. Properly calculated and transparently managed service charges are equally important, as they have a direct impact both on the attractiveness of the property for tenants and on the stability of its operations. It is the combination of cost control, efficient operations and the quality of the everyday user experience that makes it possible to achieve stable revenues and long-term property value,” emphasises Agnieszka Bobela-Musiał, Head of Retail, Asset Services at Cushman & Wakefield.
Source: CEO.com.pl
