Development

ECE is further developing the G3 Shopping Resort Gerasdorf near Vienna and is expanding the offer and tenant mix of the center with its more than 130 stores with new retail, product testing, and experience areas. The aim is to create a unique sport and outdoor focus – on a 5,000 sq m indoor sports retail area and a 3,000 sq m outdoor sports area – as an additional attraction for the center.

Union Investment has acquired the Nürtinger Tor development project via a forward funding deal. The building in the heart of Nürtingen dates back to 1971. Currently known as the Nanz Center, it is being converted into a mixed-use shopping and amenity center. Completion is scheduled for the second half of 2023.

BALFIN Group is receiving a corporate loan from the International Finance Corporation, following a positive evaluation of its operations and standards according to well-established criteria. This amount will be used to refinance the expansion of Tirana East Gate, so that it ultimately creates more jobs, boosts local production, and promotes competitiveness in the retail market.

Mitiska REIM has announced the opening of a new retail center development in the Polish city of Kolobrzeg. Developed in joint venture with local partner Karuzela Holding and designed to achieve a “Very Good” score on the BREEAM in-use scale, this is the third retail development project opened by Mitiska REIM and Karuzela Holding in Poland this year.

The city of Bamberg has approved the development plan for the LEZ 14 shopping center on the “Am Laubanger” site. Thus the green light has been given to the FIM Group to convert the former retail park into a modern shopping center. The tenant mix of around 7,100 sq m of retail space includes Lidl, Rossmann, TK Maxx, Media Markt and Der Beck. The opening is planned for the first quarter of 2023.

Despite all challenges, a lot is happening in the retail real estate industry and great projects are in the making. This is best illustrated by the entries for the MAPIC Awards 2022 category “Best performing Shopping Center”. They include assets such as shopping centers, outlets, and retail parks. They show innovation through new technologies, customer loyalty programs, retail mixes and architectural features which come together for the aim of increasing footfall, customer satisfaction, average spending and offering a unique experience in a new shopping destination. All these outstanding projects demonstrate the strength, innovation, and positivity of our industry.

Better Spaces, Better Communities, and Better Together – those are the pillars upon which Unibail-Rodamco-Westfield’s sustainability strategy is based. URW is committed to playing a key role in the environmental and energy transition. As such, the company has been implementing its “Better Places 2030” sustainability strategy since 2016.

OUT NOW – LATEST ISSUE! +++ RE-THINK! – How to reassess development, invention and communication in retail real estate. The real estate industry has been in a state of change for a few years now: increasing online retail, the move to multi-channel, changing logistics requirements, a strong emphasis on entertainment, a much higher level of diversity in retail, and last but not least, the big issue of ESG. “Re-think” – is the order of the day.

While Western Europe is struggling with the aftermath of the coronavirus and is plagued by inflation concerns, Nepi Rockcastle has delivered 2019-level numbers and boasts a full development pipeline. In an interview with ACROSS editor Reinhard Winiwarter, CEO Rüdiger Dany explains the peculiarities of Eastern European markets, why he is neither concerned about inflation nor in the position of having to actively seek tenants for his sites, and why he sees ESG investments as real earnings opportunities.

Reify. is Sonae Sierra´s rebranding of its real estate expertise activity which reinforces its commitment to offering multidisciplinary services to investors and developers. ACROSS spoke with Jorge Morgadinho, Reify.’s Executive Director, about the first business year after the rebranding.

The pandemic has confirmed the resilience of Immofinanz’s low-cost retail formats and has resulted in the introduction of new concepts. Immofinanz Board Member Dietmar Reindl spoke with the publisher of ACROSS Magazine, Reinhard Winiwarter, about the resilience of retail relationships, the need for more service, and the company’s expansion plans.

Around 30 years ago, a trendsetting Kaufland store opened in Erfurt-Herrenberg (Erfurt, Germany). Now it has been honored by the “Stadtimpulse” initiative as Best Practice 2022 in three categories: Innovation in Retail, Urban Design and Real Estate, and Experience and Living Space.

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