Centerscape acquired a retail agglomeration with NETTO and 15 additional rental units in Strausberg, Germany in December 2020. The local supply center was extensively modernized between 2018 and 2020 and is fully leased.
The purchase was made through Baukontor Lange GmbH. "In this complex transaction, the long-standing support of both parties in particular contributed to this positive conclusion - equally beneficial was our nationwide network to family offices and institutional investors" says Christoph-A. Böhme, investment consultant for retail real estate at the nationwide operating Robert C. Spies Group, which acted as intermediary in the transaction. Legal and tax advice to the Centerscape Group in this transaction was provided by the law firm GSK Stockmann.
The property is located on an approx. 10,230 m² site, directly integrated in the catchment area of a massive residential block development. The tenants on a total leasable area of over 3,450 m² have a total of 150 parking spaces at their disposal on the site.
In addition to the discount grocer NETTO, the tenants also include TEDi, a pharmacy, a beauty salon, a hairdressing salon, a flower store, an alterations tailor, a physiotherapy practice, a nursing service and a restaurant.
This is the tenth transaction Centerscape has completed in 2020 under its so-called Safe Haven investment strategy, which aims to acquire high-quality commercial properties for its own portfolio that generate long-term returns and have proven to be crisis-proof.