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ACROSS

February 2022

Redevelopment of Westland Shopping Center at the Finish Line

AG Real Estate is on the verge of completing the extensive renovation and extension works it started in 2019 in Westland Shopping Center in Anderlecht (Belgium). The program includes the arrival of a large department store and a number of new retailers, the expansion of the Food & Beverage offer, and the creation of a leisure center of over 4,000 sq m.

KGAL acquires Charles Square Center in Prague

KGAL has acquired the Charles Square Center in Prague with retail, office space, gastronomy, and healthcare for a pan-European special AIF. The downtown retail and office complex with a total of nearly 20,000 sq m of leasable space has a number of international tenants. The seller of the property was Commerz Real.

Commercial Sustainable Development Goals

ACROSS Magazine’s compilation of research studies shows how the retail and real estate industries are meeting sustainable economic models of production and services, while eliciting innovation and a commercial evolution.

NEINVER is back to pre-COVID levels

The leading Outlet Operator in Spain and Portugal and the second-largest Operator in Europe, has announced a steady recovery at its Outlet Business in 2021.

What do sustainable certifications look like?

Sustainable certification and rating systems are very common by now. But how much do we really know about these certifications, and how do they apply to sustainable buildings? Safe Asset Group came up with a comprehensive overview on certificates.

Sonae Sierra launches new positioning

Sonae Sierra rencently started a new chapter in management and strategy. In line with this the company has now launched a new image and positioning, illustrating the company’s new strategic cycle.

Hines Signs €50 Million Green Loan for Mixed-Use Property Preciados 13

Hines, on behalf of Bayerische Versorgungskammer (BVK), has signed a €50 million green loan with CaixaBank as part of a new financing package for its flagship Preciados 13 project in Madrid. In 2017, the mixed-use building was acquired by Hines on behalf of BVK Highstreet Retail Preciados S.L.U.

First Outlet in Brussels is planned for 2023

TORG International will collaborate with Start Concept on leasing the first outlet in Brussels. Construction of the entire project is well advanced with an opening planned for late 2023.

Norblin Factory in Warsaw expands tenant portfolio

The multifunctional Norblin Factory opened in September last year and is gaining more and more tenants. The project’s investor, the Capital Park Group, has signed lease contracts with another six concepts which will soon join the revitalized complex at Żelazna Street.

Citycon sells two non-core shopping centers in Norway for €145.4 million

Citycon has signed an agreement to sell two non-core shopping centers in Norway for approximately €145.4 million. According to the agreement, Citycon will divest Buskerud center to Aurora Eiendom AS and Magasinet center to Oslo Opportunity II AS and Vedal Investor AS. The transaction is estimated to close during Q1/2022.

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THE LEVEL OF EXCELLENCE WE SHOULD STRIVE FOR TODAY AND TOMORROW
Originally developed solely to meet the daily needs of consumers, shopping centers quickly became an asset class. The model worked very well for a long time, but as consumer behavior has changed, so have the requirements of tenants, operators and investors. The obvious task to satisfy customers, business partners and stakeholders is: Get your customers to return to your locations. Clear differentiation and positioning as well as a clear focus on people are crucial.
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