The Blog

Investment: shopping center in Mering

Posted 10/04 2012
By Nicole Menzel

Centerscape acquired a shopping center in Mering near Augsburg. The property is located in an established retail location along the road B2, which leads through town.

The property has a total rental area of approx. 3,422 sqm and generates over €300,000 of gross revenues. Anchor tenant is LIDL. Side tenants are AWG, a textile chain, and dm, a drugstore. The weighted average remaining lease length is approx. 9 years.

Centerscape continues its growth and currently owns 52 properties with more than €200m investment volume.

Centerscape extends its properties in Warendorf and Hilter

Posted 02/04 2012
By Frank Sippold

Centerscape has successfully completed the extensions of two properties in Warendorf and Hilter.

The LIDL market in Warendorf was extended by almost 400 sqm, which brings the total sales area up to over 1000 sqm. The property is located at a busy road in a residential neighbourhood which is not far from the old town center.

At property Hilter the retail area of tenant KiK, a textile discounter, was extended by about 150 sqm. KiK benefits from its location next to discounter Netto and a hairdresser in the middle of town along the main road. The total rental area of the shopping center is 1824 sqm.

New Centerscape office in Nuremberg to focus on development projects

Posted 04/03 2012
By Steffen Mittag

In January Centerscape opened a new office in Nuremberg, its third in Germany. The team in Nuremberg will focus on development projects throughout Germany and on acquisitions of stabilized properties and turnkey projects in southern Germany.

Centerscape invests in forward funding projects with the aim to own high quality real estate in strong locations with sustainable rents. We seek to co-operate with developers by supporting them with Centerscape’s equity and expertise.

Nuremberg’s investment and development team is led by Thomas von Einem who has over 25 years of experience in the real estate investment and development sector. Prior to joining Centerscape he was at Sontowski & Partner Group (S&P Group) from 1999 where he acquired more than €500m of assets and built up a strong network to developers across Germany. Thomas was in a leading position and responsible for building up the real estate portfolio of DIC AG as well as GRR AG, two investment companies that are part of S&P Group. In 2004 Thomas was named head of commercial developments at S&P Group. He will be working at Centerscape in Nuremberg with Steffen Mittag, who also has several years of real estate investment experience.

Do you have a development project you think we’d be interested in buying or joining as an equity partner? Talk to our development team.

Investment: Neighborhood shopping center near Hannover

Posted 13/02 2012
By Nicole Menzel

Centerscape acquired a grocery-anchored property in Burgdorf near Hannover. The property has a total rental area of approx. 3,795 sqm and generates around €474,000 of gross revenues. Anchor tenant is Rewe. The weighted average remaining lease length is over 10 years. It is a well established location in the city center with very good accessibility and further shops in the neighbourhood.

New acquisition: Shopping Center Schlossarkaden in Bad Rappenau

Posted 24/01 2012
By Nicole Menzel

Centerscape acquired the shopping center Schlossarkaden in Bad Rappenau. The property was developed and financed in a joint venture between SEPA and the Bayerische Landesbank. The shopping center was completed and opened in November 2011.

Einkaufszentrum Schlossarkaden

Schlossarkaden consists of two buildings, totalling 7,450 sqm of rental area. It is anchored by Rewe and Lidl, side tenants are Deichmann, Apollo Optik, AWG, Takko and Fressnapf. The buildings are connected through an arcaded sidewalk. The property is situated as the gateway to the town center, where it is highly accessible and a lot of traffic going through. The weighted average remaining lease length is 13 years.With this investment in a core property, Centerscape  increases its portfolio to 50 properties and over €200m investment volume. In 2012 Centerscape will continue investing in high quality stable properties and development projects.

New Centerscape office in Frankfurt

Posted 09/12 2011
By Lucia Ruether

Centerscape’s Frankfurt office, opened in March of this year, has now relocated to a new space in Mainzer Landstrasse 33. Please note the new address, phone and fax numbers.

The investment team in Frankfurt is represented by Lucia Ruether and Holger Lahm. They focus on portfolio investments across Germany and acquisitions in the Rhine-Main area.

At the beginning of 2012, another office will open in Nürnberg, from where Centerscape will steer development projects across Germany.

Meet Centerscape at Expo Real 2011

Posted 07/09 2011
By Holger Lahm

Members from our Investment & Acquisition and Asset & Property Management teams will be at Expo Real in Munich for a full three days.

We are aiming to meet with existing and potential future business partners, including developers, sellers, advisers, banks and expansion managers in the retail sector.

We are looking forward to hearing from you to organise a meeting.

New acquisition: Two neighborhood shopping centers

Posted 15/07 2011
By Nicole Menzel

Centerscape has acquired two neighborhood shopping centers in Blaustein und Erbach. With a total total rentable area of 12,500 sqm the properties generate rental income of approx. €1.4m annually.

Anchor tenant for both properties is REWE. Side tenants are AWG (apparel), Müller (drugstore), TEDi (1€ shop) and ABC-Schuhe (shoe store). The average remaining lease term is 9 years.

With this latest addition, Centerscape now has a portfolio of 49 properties with a rentable area of 130,000 sqm and a gross value of approximately €185m.

Team Centerscape participates in the annual B2Run in Hannover

Posted 10/06 2011
By Centerscape

Twelve people from the Centerscape team took part in the annual B2Run in Hannover yesterday, competing as the CenterRacers. Everyone reached the finish line but Hendrik Scholz was the fastest, coming in at under 29 minutes.


A snapshot of the team before the run.

New acquisition: Shopping centers in Berlin and Geilenkirchen

Posted 16/05 2011
By Michael Baumgart

Centerscape has acquired two inner-city neighborhood shopping centres in Berlin und Geilenkirchen. With a total rentable area of over 10,000 sqm the properties generate a rental income of approximately €900,000 annually.

Both properties are situated in integrated locations that benefit from residential neighborhood and very good accessibility. Anchor tenants are REWE, KAISER’S and ALDI. In addition there are a few smaller side tenants. The average remaining lease term is 10 years.

New acquisition: Four neighborhood shopping centers

Posted 17/03 2011
By Nicole Menzel

Centerscape has acquired four neighborhood shopping centers in Berlin-Falkensee, Mühlheim am Main, Landsberg am Lech and Lörrach.

With a total rentable area of 8,900 sqm the properties generate an annual income of over €1m. Anchor tenants are EDEKA, Netto and Norma. The average remaining lease term is 12 years. All properties are very well accessible and integrated in residential neighborhoods.

Rob Jenner is the new CEO of Centerscape

Posted 02/02 2011
By Centerscape

Centerscape’s board of directors today appointed Rob Jenner as the Company’s new Chief Executive Officer.

Rob is very familiar with Centerscape, having been instrumental in establishing the Company in his former position as European Portfolio Manager for Evergreen Real Estate Partners Europe s.a. r.l., and keeping a close eye on its development since 2006.

“This is a very exciting step for me”, says Rob. “I believe Centerscape is uniquely positioned to continue its strong portfolio and organizational growth to become Germany’s leading real estate operating company in the grocery-anchored retail real estate sector. I am looking forward to contributing, and being a part of the success story.”

The Company also announced that its regional expansion with the establishment of offices in Frankfurt and Nürnberg before the end of the year.