Redevco Services Deutschland has acquired three retail properties that are under long-term lease to Karstadt and Karstadt Sport. Redevco bought the buildings, located in Hannover, Munich and Viernheim, from Highstreet. The parties have agreed not to disclose the price.
Redevco Services Deutschland has acquired three retail properties that are under long-term lease to Karstadt and Karstadt Sport. Redevco bought the buildings, located in Hannover, Munich and Viernheim, from Highstreet. The parties have agreed not to disclose the price.
The property in Hannover is located on Große Packhofstraße and houses a Karstadt Sport store. It offers over 8,600 m2 GLA spread over seven storeys plus two basements, and sales space of around 7,100 m2. The Karstadt building in Munich is part of the Olympia shopping centre on Riesstraße. Of the total 15,000 m2 GLA covering the basement, ground floor and first floor, around 9,600 m2 is in use for retail.
The Viernheim addition to the REDEVCO portfolio consists of 18,500 m2 in a four-storey building on Robert-Schuhmann-Straße. The Karstadt store in the Rhein Neckar shopping centre covers just under 11,800 m2 of this.
