Image: DekaBank

Deka Immobilien acquires retail property in Sweden

Deka Immobilien GmbH has acquired a retail park in Sweden for around EUR 70 million. Aberdeen Standard Investments European Real Estate Club II sold the property, which will be added to the portfolio of the WestInvest TargetSelect Shopping sector fund for institutional investors.

The “Ingelsta Retail Park” is an established retail park in Norrköping, a location with a high level of retail agglomeration around 160 km south of Stockholm. Construction took place between 2006 and 2008 and the seller repositioned the property in the last two years by concluding new lease agreements.

The property offers more than 37,000 sq m of leasable space and around 1,200 parking spaces. It is leased under long-term leases to 15 well-known tenants, with a focus on the do-it-yourself, home and living, decoration and fashion segments, with Bauhaus as the main tenant.

The tenant mix is rounded off by the Willys supermarket chain and a government liquor store. The property can be expanded to add more than 4,200 sq m of retail space, which is expected to be completed by 2021. Lease agreements already exist for this space. The Ingelsta location is one of the top retail locations in Sweden and offers good traffic access.

This second acquisition in Sweden allows fund management of WestInvest Target Select Shopping to further improve the geographical diversification of the fund.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Why Proximity Marketing is the Future of Customer Engagment for Retail

According to Coniq’s paper, geo-loyalty, the integration of proximity marketing, and customer loyalty programs are the future for retail destinations because they effectively engage consumers in-store AND online.

Ingka Centres enters the Indian market with its first IKEA anchored destination in Noida, India

Ingka Centres, part of the Ingka Group, (which also includes IKEA Retail and Ingka Investments), has taken its first step to expand into India with a major land acquisition in India.

DEICHMANN to open a new store in Colosseum Mall in Bucharest

Colosseum Mall signed with the German retailer DEICHMANN to open a 500 s qm store, as part of the current expansion plan of the commercial center. With a network of over 100 stores across Romania, DEICHMANN comes one step closer to the community of North-West Bucharest, in an area of ​​continous rising retail and residential segments.

People in move

Recruitments, promotions and appointments...

NEINVER reaches agreements with 98% of tenants across its European portfolio

In total, the company signed close to 1,500 leasing deals in 2020, including tenant rent negotiations, new leases and renewals. The resilience of the outlet industry is reflected by positive consumer demand whenever restrictions eased or lifted during 2020.

Cushman & Wakefield makes UK customer experience appointment

Cushman & Wakefield has appointed customer experience specialist Michelle Gloder as Head of Customer Experience within its UK Asset Services team.