ACROSS | The European Retail Real Estate Magazine

Ticker

TH Real Estate’s European Cities Fund welcomes largest Muji in Europe at Kamppi Shopping Centre, Finland

The opening of Muji at the centre will be the first flagship store in Finland and represents the largest Muji store in Europe. The store is scheduled to open in Q4 2019. Muji currently has more than 40 stores across Europe.

Ticker

Echo Investment opens Libero – the new destination for shopping, entertainment and meetings in Katowice, Poland

Residents of Katowice and the Silesian conurbation have been already visiting the latest shopping and entertainment complex in Silesia. It is the 150th project built by a developer from Kielce - Echo Investment.

Ticker

IMMOFINANZ EXPANDS STOP SHOP PORTFOLIO TO 80 LOCATIONS WITH EIGHT NEW ACQUISITIONS

IMMOFINANZ is driving the expansion of its successful STOP SHOP retail park brand and has now purchased eight retail parks in Slovenia, Serbia and Croatia. The purchase price totals approximately EUR 90.5 million.

Topics
Opinion

About a Sophistication

Outlet centers have proved to be one of the most successful businesses in the retail market.

Events

Time Again for Christmasworld’s Premium Business Program

Shopping centers have to inspire visitors and customers with decorations and displays that celebrate seasonal events. The Premium Business Program will present the latest industry trends during two events on January 25 and 28, 2019.

Development

“We Saw the Interest of Investors Vanishing”

From the outbreak of the financial crisis until 2016, hardly any new shopping center openings occurred in Spain and Portugal, reports Francisco Cavaleiro de Ferreira, Managing Director of Multi in Iberia. Now, the markets have recovered.

Center Management

UK’s first interactive inflatable park to launch at Meadowhall

The debut of Air Haus at the mall in Sheffield reflects the increasing relevance of leisure facilities in shopping centers.

Retail

Virtual Reality at the Service of Food Court Investment

Gastronomy areas are increasingly becoming the focal points of shopping centers. Virtual reality software makes planning much easier.

Factory Outlets

From a Porcelain Factory to an Outlet Center

Seventeen years have already passed: In 2001, a small outlet center was built in the Upper Franconian town of Selb in the former manufacturing halls of the long-established Heinrich porcelain factory. The new Outlet Center Selb is currently under construction there.

Investment

Why Polish People Love Click & Collect

EPP is the leading owner of malls in Poland. CEO Hadley Dean emphasizes the importance of the correct weighting of online shopping competition.

Studies & Reports

PEOPLE IN THE EUROPEAN RETAIL REAL ESTATE INDUSTRY

Recruitments, promotions and appointments in the European Retail Real Estate Industry.

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Opinion

10 YEARS ACROSS – EDITORIAL

When we presented the first print issue of ACROSS exactly 10 years ago, an epochal event shook the world economy. The US-investment bank Lehman Brothers went bankrupt with a deafening bang and caused the biggest economic crisis in recent years. The real estate industry was hit particularly hard.

BY TIBOR TATÁR

Shopping Writes the Next Chapter of Urban Regeneration

Close to four million sq m of new shopping center space is expected to be delivered this year in Europe, and millions more are due to be completed in 2019.

BY PATRICK DELCOL

Taking a Look at the Current European Real Estate Investment Market

Given the current skepticism prevailing among the international real estate investment community, particularly regarding the retail real estate segment, it is important to try to identify its underlying reasons, separating the thoughtful ones from the more provocative ones.

BY MICHELLE BUXTON

Technology: Delivering Competitive Edge and Increasing NOI

One of the most important aspects of the advancement of technology is how it has unlocked massive potential by transforming the way we communicate. In our daily lives, we now have at our fingertips instant ways to access important information, engage with people and brands that matter, and stay safe and informed.

BY NATHALIE DEPETRO

Who Is the Most Innovative of Them All?

The retail industry is going through seismic change, fueled by changes in demographics, consumer behavior and – perhaps most notably – technological advancements. Recent figures show that e-commerce currently makes up one-tenth of total retail sales worldwide, and this number is set to increase over the years to come.

PEOPLE IN THE EUROPEAN RETAIL REAL ESTATE INDUSTRY

Recruitments, promotions and appointments in the European Retail Real Estate Industry.

Events

Shopping Center- & Commercial Real Estate Forum Switzerland

On May 9, 2019 the largest and most important conference for shopping centers, commercial real estate and commerce in Switzerland is again taking place in the popular Radisson Blu Hotel at the Zurich Airport in this, its twelfth year.

The 2nd Annual CRE Awards & Investment Forum, January 17, 2019 in Budapest, Hungary

The Commercial Real Estate Awards & Investment Forum is the only real estate event bringing the international spotlight directly onto the developing markets of Hungary, Czech & the Balkan regions.

MAPIC 2018: Kind invitation to a very special Austrian wine tasting in Cannes!

MK Illumination, Microlog, Goloyal, and Reinhard Winiwater Winery invite you to an afternoon of inspiration featuring live music, as well as a delicious wine tasting experience.

Mapic, November 14 – 16, 2018 Cannes, France

Since its inception more than 20 years ago, Mapic has continued to attract the world’s leading retailers, developers, mall operators, and, more recently, major ecommerce retailers.

ACSC CONGRESS 2018, OCTOBER 18, VIENNA, AUSTRIA

The Austrian Council of Shopping Centers (ACSC) Congress will take place at the Festsaal of Vienna’s “House of Industry”, Schwarzenbergplatz, Vienna on 18 October 2018 at 3 pm.

10TH GERMAN RETAIL WAREHOUSES SUMMIT, NOVEMBER 5 – 6, 2018, DÜSSELDORF, GERMANY

The two-day event will take place on November 5 - 6 at the Van der Valk Airporthotel in Düsseldorf.

Development

Dubai Mall celebrates its 10th anniversary

The shopping hotspot in the United Arab Emirates is one of the world’s biggest shopping centers with its total sales area of 350,000 sq m.

PROJECTS & OPENINGS EUROPE

SPAIN: Inmobiliaria Espacio has appointed UK retail and leisure agency Lunson Mitchenall to drive forward the next phase of retail and leisure leasing at Caleido in Madrid. The Torre Sevilla shopping center opened its doors to the public. | SWEDEN: Mölndal Galleria opened in the Greater Gothenburg Area. | GERMANY: After three years of renovation, Helio, with its 38,000 sq m, opened its doors in Augsburg. Ernst-August-Galerie in Hanover will be modernized, redesigned, and expanded. Prelios Immobilien Management has presented a comprehensive concept for the redesign of the Galerie Neustädter Tor in Gießen, Hesse.

“IKEA Centres becomes Ingka Centres”

The rebranding does not change anything for tenants and customers, emphasizes Managing Director Gerard Groener.

“Creativity and Courage Can Make All the Difference”

TconcepT was founded in The Hague five years ago and is already active in 15 countries, as General Manager Frank van Dongen reports.

PROJECTS & OPENINGS INTERNATIONAL

Mitsui Fudosan Co. announced the grand opening of Mitsui Outlet Park Taichung Port, central Taiwan’s largest outlet mall, on December 12, 2018. | Palladium in Umuarama (Brazil) will bring greater comfort, development, and leisure to a market that has the largest consumption potential in the region. | Simon Premium Outlets announced the opening of Denver Premium Outlets (USA).

Rhein-Ruhr Zentrum in Mülheim: Once Stagnant, Now Completely Revitalized

The German Ruhr region is regarded as the largest catchment area in Europe – even ahead of the metropolitan areas of London and Paris. In that region – specifically in Mülheim – Rhein-Ruhr Zentrum, which opened in 1973, is now undergoing a 200-million-euro modernization.

Center Management

Parndorf to Focus on Entertainment in the Future

A new food and entertainment complex has recently opened at Parndorf in Burgenland, one of the most successful outlet locations in Europe. Centerprise Group, based in Austria, was jointly responsible for the conceptual design and letting of the complex.

Refurbishment of Half of the Entire Portfolio until 2020

One of Unibail-Rodamco-Westfield Germany's main areas of activity is asset management. Olaf Ley, Director Investment / Asset Management, explains the corresponding strategy.

Renovation of Outlet Centers

Not every development is successful in the booming outlet center market. This is particularly true if the projects were not developed by one of the Big 3 in the outlet center industry. The necessary outlet-specific expertise is underestimated by many developers who are attracted by and wish to benefit from the theoretically high leasing levels in the outlet asset class.

A Breath of Fresh Air at Westgate Shopping City

A change in ownership has taken place at the mall in Zagreb, Croatia. Denis Cupic, Head of Asset Management, comments on the background as well as the effects on tenants and customers.

The Footfall Creator

Holistic consulting and servicing of retail real estate is becoming increasingly important in the industry. The Austrian Centerprise Group has dedicated itself precisely to this purpose, even beyond national borders.

„Security is not a taboo subject“

A new collaboration with SES promotes cooperation between Austrian police and retail. Shopping centers in general are focusing more and more on security.

Retail

Umdasch The Store Makers Goes to Mapic

Extraordinary worlds of experience in the areas of lifestyle retail, food retail, and premium retail, including digital retail solutions, are designed for discerning customers by the Austrian company. It will be represented in Cannes from November 14 to 16, 2018.

“Technology for the Sake of Technology Is Fruitless”

The basic concept of shopping will not significantly change, forecasts Silvio Kirchmair, CEO of umdasch The Store Makers. However, he does anticipate legal intervention. Google, Facebook, and Amazon will all be required to pay their financial obligations to the State.

THE LEISURE HUNTER

In the face of considerable changes in the retail market and changing consumer purchasing patterns, ECE had to think beyond traditional retail practices. Katrin von Soosten is chasing and finding innovative ideas and non-traditional concepts.

House of Fraser closes 31 stores

The department store chain, which was founded in 1849 in Scotland’s Glasgow, is in serious financial trouble.

“Digitization is changing our understanding of shopping”

According to Bernd Albl, Managing Director Digital Retail at Umdasch, at the end of the day, consumers no longer distinguish between online and in-store shopping. Seamless Shopping is the keyword.

Ikea finds its way into the city

The Swedish furniture giant may still be in the planning stage for this project, but worldwide first Ikea city-location at Vienna’s Western Train Station is already beginning to take shape.

Factory Outlets

Target: Southeastern Europe’s favorite shopping destination

IKEA Centres and Mutschler Outlet Holding AG have recently opened the first phase of Designer Outlet Croatia in Zagreb. In addition to its commercial shops and new theme, the outlet features a number of customer services, such as center information, strollers, free Wi-Fi, gift cards, mobile chargers, baby care facilities, an exchange office, chill out zones, terraces, and a future playground area.

“We do not limit ourselves to countries”

IKEA Centres has opened its second outlet center, the Designer Outlet Croatia. Project Manager Branko Mihajlov explains what criteria were – and will continue to be – applied when choosing locations.

Outlets are Exactly in Line with the Trend of the Times

Franz A. Kollitsch, co-founder of Austrian real estate developer Invester United Benefits, speaks about the company's latest activities and why outlet centers are the ideal complement to online shopping.

Entertainment for outlet shoppers

In mid-March, Cineplexx opened a multiplex movie theater with five screens and over 800 seats in Parndorf, Burgenland. Immediate neighbors include McArthurGlen's Designer Outlet Parndorf and FOP Management GmbH's Parndorf Fashion Outlet.

BY CARLOS GONZÁLEZ

OUTLETS GAIN GROUND IN THE EXPERIENCE GAME

In the 1980s, the retail format of designer outlets arrived in Europe. Now, the time for expansions and refurbishments, with a focus on food & beverage and leisure, has come.

Expansion in Ashford – Completion scheduled for fall 2019

The beginning of construction on the £90 million expansion of McArthurGlen Designer Outlet Ashford was officially celebrated at the end of March 2018.

Investment

Change of Ownership at Trnava City Arena

The acquisition of Trnava City Arena in Slovakia has been recently completed. Peter Korbačka acquired the shopping center from Vladimír Poór. Negotiations lasted for nearly a year. The price as well as other transactional details have not been disclosed and remain subject to business privacy. However, this is one of the country’s most important retail segment transactions of the year.

Almada Fórum in New Hands – Merlin Properties in a Buying Mood

JLL, acting for Blackstone, has completed the sale of Almada Fórum, from the Rio Tejo retail portfolio, to Merlin Properties. The portfolio originally comprised three prime shopping centers and a retail park.

TH Real Estate launches next platform for German retail

Marcus Mack, from TH Real Estate, believes that the country’s retail market is more active than ever before. As a result, he and his team have recently set up a new Germany-focused retail vehicle. With a target portfolio size of €400 million, it has a proposed term of 10 years, with a two-year renewal option.

First Crowdfunding Offer at a Mall in Austria

The Home Rocket crowdfunding platform has been activated on behalf of the ece in Kapfenberg, Styria. Its objective is to contribute to the financing of a health care area in the shopping center.

Adjustment in pricing levels expected

According to Adam Pearce, Managing Partner at Kintyre, the currently inflated investment market for retail assets is not substantiated by the underlying trading environment for traditional brick-and-mortar retailers.

One transaction quickly follows the next

The European retail real estate industry was on a particularly intensive shopping spree over the last days and weeks.

Studies & Reports

Center Customers Focus on Short Travel Distances

Good accessibility is one of the main criteria for the success of a center. There is a lot of catching up to do in the digital sector.

Stable first half-year in the Russian capital

Knight Frank recently published the “Retail Market Report Moscow H1 2018”. The most important event was the commissioning of “Kashirskaya Plaza”, which opened with a high occupancy rate – not only by area but also by number of stores.

GLOBAL RETAIL ATTRACTIVENESS INDEX

RETAIL INVESTMENT: WHEAT SEPARATED FROM CHAFF AMID GLOBAL UPTURN

The new Union Investment index analyzes the attractiveness of the top 17 markets.

More than just high streets: Milan

The capital of the Lombardy region is recognized as one of the most famous fashion hot-spots in the world and it is Italy’s industrial, commercial, and financial heart. The city continues to attract new businesses and investments – and new shopping centers.

Poland provides a dynamic retail environment

Union Investment’s new “Global Retail Attractiveness Index“ (GRAI), which analyzes the environments for retail investments in 17 countries around the world, recently showed that Poland is one of the most dynamic European markets. The latest data confirms this assessment.

Constant change along the Bosporus

Cushman & Wakefield recently published the “Turkey – Retail Market Snapshot – First Quarter 2018”. The acceleration in the country‘s investment market signals that further consolidation in the shopping center market can be expected.