Redevco reaches 88% leasing level at Alea 101 in Berlin

Amsterdam-based retail property specialist Redevco has announced that its Alea 101 scheme on Alexanderplatz in Berlin is 88% leased a year before it is due to open.

The latest tenant to sign on is Olymp & Hades Textil, part of the Cologne-based Görgens Gruppe. The retailer is taking almost 1,2000 m² of space on the ground floor and in the basement of the building Redevco is developing on Berlin’s Alexanderplatz for a KULT fashion store.

The 10-year lease, negotiated through the retail advisers of BNP Paribas Real Estate, will commence when the building is completed, at end-2013.

Following the leases entered into earlier with TK Maxx, the off-price brand and designer label chain (4,700 m2), shoe retailer AktivSchuh (1,400 m2) and restaurant chain Vapiano (1,100 m2), 88% of the 10,500 m² of retail space in Alea 101 has now been taken.

Alea 101 is located close to the Berlin television tower. The 30-metre-high stand-alone building comprises a basement, ground floor and four upper floors totalling 19,000 m² gross area, with retail and catering space arranged over the basement through to the second floor. Residential units and offices are planned for the top two floors. The development has been awarded a Gold pre-certificate by the German Sustainable Building Council (DGNB).

Redevco is an independent real estate company, managing and developing one of the largest retail portfolios in Europe, currently valued at EUR 7.1 bn.