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.
New acquisition: Shopping Center Schlossarkaden in Bad Rappenau
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.
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.