Citycon Oyj
Citycon renewed eleven grocery store lease agreements with Kesko

Citycon Oyj 

28.05.2013 12:45
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CITYCON OYJ              Investor News        28 May 2013 at 13:45

Citycon has renewed lease agreements with the trading sector company Kesko for
eleven grocery stores with long maturities. These stores are part of Citycon's
supermarket and shops portfolio. The agreements cover some 44,000 square metres
of leasable area. The renewed leases increase the average remaining length of
Citycon's total lease portfolio by approximately 4 months (3.4 years at end of
March 2013). Seven of the properties are well located in the Helsinki
metropolitan area. An extensive renovation will be carried out in the largest
of the properties, Sinikalliontie 1 in Espoo, and at the same time Kesko will
renew the supermarket concept. 

'This transaction is a clear example of value enhancing activities in our
supermarket and shops portfolio. The renewed lease agreements underline the
quality of the locations. The transaction strengthens Citycon's property
portfolio and co-operation with Kesko, our largest tenant,' says Harri
Holmström, Chief Operating Officer of Citycon. 

For further information, please contact:

Harri Holmström, Chief Operating Officer, tel. + 358 40 845 5726
News Source: NASDAQ OMX



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Language:     English
Company:      Citycon Oyj
              
               
              Finland
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Fax:          
E-mail:       
Internet:     
ISIN:         FI0009002471
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