TH Real Estate buys suburban shopping centre in Frankfurt

TH Real Estate has acquired a shopping centre in Frankfurt am Main on behalf of a German institutional investor.

The Griesheim Center on Mainzer Landstraße was completed in 2008 and is built on two levels, with a total lettable area of 9,500 m2 and 430 parking spaces. The value of the transaction was not disclosed.

The shopping centre comprises 13 retail units varying in size from 50 to 4,700 m2. Supermarket chain Edeka is the anchor tenant and the average unexpired lease term is eight years.

´The Griesheim Center is an important local amenity centre for Frankfurt-West and is also widely used by commuters thanks to its situation at one of Frankfurt’s main traffic hubs,’ said Thilo Wagner, director of investment Germany at TH Real Estate.