Centerscape is a leading investor, developer, owner and manager of grocery-anchored neighborhood shopping centers, with a presence in every major market in Germany, Poland and the Czech Republic.
Completed property extensions in 2013
In 2013, Centerscape extended the retail space in three properties and could therefore increase the assets’ cashflow and remaining lease term.
In the retail park Augsburg Haunstetten the sales area of the REWE supermarket was extended to 1,600 sqm. The construction work was finished within three months. The REWE lease has a remaining term of 11 years.
In the Lidl-anchored neighboughhood shopping center in Bad Lippspringe, Centerscape extended the Rossmann drugstore to approx. 950 sqm. The lease was extended until 2025.
In October, Centerscape completed the extension of the Lidl market in Neu-Ulm by approx. 100 sqm after a 3-months construction period. Centerscape could increase the rent and Lidl signed a new 15-yr lease.
In addition, Centerscape extended four anchor lease contracts with EDEKA, REWE and NORMA to 10-15-year lease terms.