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.
News release
20 September 2023
JLL advises the seller on the sale of Retail Centre Espoontori to Kesko
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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.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.