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Leasing

The fashion chain Peek & Cloppenburg Düsseldorf has signed a long-term lease contract to become a new tenant in the Limbecker Platz shopping center in Essen. Union Investment and ECE are setting the course for the future of the center with the first extensive partial letting of the space in the former Galeria store, which is also set to benefit Essen’s city centre in the long term.

The Rhein-Ruhr Zentrum (RRZ) in Mülheim, Germany, has gained a new anchor tenant: leisure provider ADVENTICA. The owners of the center, Eurofund Group and Signal Capital Partners, have now signed a long-term lease for 3,300 sq m of space. The opening of ADVENTICA’s first German location is planned for the second quarter of 2025, while renovation work will begin in early October.

CBRE Romania has announced its exclusive involvement in the leasing strategy of H Știrbei Palace, an emblematic historical monument located in the heart of Bucharest and one of the most anticipated retail projects in the capital. After the completion of the renovation works, Știrbei Palace aims to become a landmark shopping gallery for luxury brands in South-Eastern Europe.

Unibail-Rodamco-Westfield (URW) currently operates 21 assets in the German and Austrian region: 19 in Germany, eight of which are in the Group’s own portfolio, and two in Austria. Last year, a total of 714 rental contracts were closed for these 21 assets. The average vacancy rate for the core locations in the portfolio around Westfield Centro in Oberhausen, Ruhr Park in Bochum, as well as Westfield Shopping City Süd in Vösendorf in Greater Vienna and Westfield Donau Zentrum in Vienna, is less than two percent.

The anchor tenant for the LU: project in Mainz has been determined. In the urban mixed-use project development by J. Molitor Immobilien GmbH and Sparkasse Rhein-Nahe, one of Europe’s most successful sports retailers, Engelhorn Sports, is opening its first store in the Rhine-Main area.

Sloane Stanley has announced the recent appointment of specialist independent property consultants, Levy Real Estate, to join the existing leasing team across the whole Estate incorporating the King’s Road and Fulham Road.

For the year 2022, MEC has reported a total of 223 new and follow-up leases in its more than 80 properties managed throughout Germany. As a result, the total leasing has reached 158,000 sq m of total space.

The O2’s Entertainment District and shopping destination, Icon Outlet, which are owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners, are looking ahead to a successful 2023, following a year of strong performance results and several, notable new brand signings and openings in 2022.