Bulvar Samsun Shopping Mall– Samsun
Project Details

Formerly an old tobacco factory, Bulvar Samsun Shopping Mall opened on July 1, 2012 after a restoration. Through our partnership in TTA Real Estate Investment and Management Inc., we have a 40% stake in the project. The other partner in the Project is Turkmall Real Estate. At the end of the 30-year lease period, the entire ownership of the Bulvar Samsun will be transferred to Samsun Greater City Municipality.

With 18,155 m² of GLA and an occupancy rate of 96%, Bulvar Samsun Shopping Mall is the first shopping mall in Samsun city center. The Shopping Mall is located in an area surrounded by residential and commercial buildings south of the city center.

The Bulvar Samsun Shopping Mall is located south of the city center in an area surrounded by residential and commercial buildings. With a conversion and restoration of old warehouses of the old cigarette factory, the project is located between the two main squares, currently home to an array of modern stores. The plot is easily accessible from highways and connecting roads. The shopping center brings a breath of fresh air to the city due to its advantageous citycenter location and is position on a transition point.

Ownership : Torunlar REIC (40%)
 
Operational Date : 01.07.2012
 
Construction Cost : TRY 21.9 million
 
Gross Leasable Area : Gross Leasable Area: 18,125 m²
 
Occupancy Rate (%) : 96% (December 2015)
 
Number of Stores : 40
 
Anchor Tenants (69.2% of GLA) : Teknosa, Boyner, Mudo City, Koton,
Deichmann, De Facto, ADL,
McDonald's, FLO
 
Appraisal Value (December 2016) : TRY 51.5 million
 
Average Lease Term as of December 2015 : 5.1 years
 
Leasehold/Freehold Status : Right of construction for 30 years
 
Rental Income + Common Area Income : TRY 12,237,422
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