Prime spots draw retailers but supply thin-Proprius

Prime retails spots draw retailers in Greece

Prime retail markets and shopping centers in Greece are drawing retailers though supply is limited with no new projects in the pipeline, said Cushman and Wakefield Proprius in a country report.

The report, a third quarter snapshot of Greece, said that occupier demand has been largely supported by food and beverage operators and mass market retailers on the back of a buoyant tourism sector.

Among the deals that took place in the retail sector in the third quarter of the year, retailer Kotsovolos opened a second store in Piraeus, Intersport athletics opened a store on Stadiou street (central Athens), NYX Professional Makeup opened their first Athens outlet and Starbucks opened a store on the island of Corfu.

"There is increased interest for prime stores in all prime high street locations while shopping center development has been on thin ground," the report said.

"Retailer demand is expected to hold, especially on behalf of mass market operators, with rents remaining stable or rising in certain locations," it added.