MULTI Germany further expands its portfolio and takes over the center management mandate for the Neustädter shopping center

“We are delighted with the new mandate and are very proud of our steady and successful expansion. With the neustädter in Giessen, we have acquired a very attractive and already extensively modernized retail property. Due to its inner-city location in Giessen, the center offers great potential for successful and sustainable further positioning,” explains Jörg-Michael Zimmermann, Managing Director Germany.

Corestate Capital Group has owned the neustädter in Giessen since the end of 2018 and has since successfully revitalized the property and repositioned it in Giessen’s retail sector. Guido Beddig, Head of Asset Management at Corestate Capital Group, is delighted with the decision to entrust Multi Germany with the management of neustädter. “With Multi Germany GmbH and its many years of experience and national and international expertise, we have found exactly the right partner. We are looking forward to working together to fully exploit the property’s potential and continue to successfully establish the neustädter in Giessen’s cityscape. At the same time, we would like to thank Girlan Immobilien GmbH for the successful cooperation in the course of the revitalization,” Beddig continues.

Located in the university city, the center is one of the largest shopping centers in Central Hesse with around 32,000 sq m of retail space. It combines a balanced mix of different sectors and concepts. The varied tenant mix from the retail, gastronomy and service sectors offers a modern shopping experience. Tenants include well-known concepts such as H&M, Media Markt, Jack & Jones, Drogerie Müller, Tally Weijl, Tedi, Tegut, Penny, Woolworth and the fitness studio chain FitX. A new food court has also been set up in the center. Here you will find numerous food outlets such as Subway, Ditsch and Immergrün as well as the sushi concept Taumi. The user mix of the neustädter has steadily diversified in recent years. The locally renowned dance studio 1st Cut Dance Base recently opened. In addition, the expansion of a daycare center and the attractive Maxiland indoor playground concept is currently being driven forward. Due to its good inner-city location and excellent public transport connections, the center has a very high footfall. With over 1,000 parking spaces, the center also has the largest multi-storey parking lot in the university city of Giessen. The shopping center, which opened in 2005, was extensively modernized in 2020/2021 and repositioned as an inner-city hybrid center.