New acquisition: Two neighborhood shopping centers

NEWS

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: Two neighborhood shopping centers

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.
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