One Outlet SA was declared preferred investor for the exploitation of Modiano Market in Thessaloniki

One Outlet SA was declared preferred investor in a tender for the exploitation of Modiano Market in Thessaloniki, with a financial offer of 1.9 million euros, surpassing an property valuation of 1.75 million euros.

The Greek state owns, through Hellenic Republic Asset Development Fund, a 43.64 pct of this historic building, while there are another 59 co-owners. The property remains mostly vacant, while there are 32 leasing contracts not property serviced.

HRADF said the completion of the tender is a significant step to restoring and reviving this historic building, a landmark for the city of Thessaloniki. The Modiano Market has 144 shops with an average space of 5-30 sq.m. each and has been the traditional food market of the city, related with the history of Jewish community in Thessaloniki.
Eli Modiano, an architect and engineer, began construction of the building in 1922.