TOM 02 2021

T
TOPS
M
OF THE MONTH
O
Essential News About The Players In
The Retail Property Market In Germany
THE HOTTEST DEALS +++
INTERVIEWS +++ STATEMENTS
+++ PARTICULARS +++
ANALYSES +++ PROJECTS
presented by HI-HEUTE.DE
February 2021
More and more people are attaching importance to regionality and sustainability.
Symbol image: Pexels / Anna Shvets
Buying local is becoming
increasingly popular
IHF COLOGNE on sustainability and regionality during Corona
In the current Corona Consumer
Check, the IFH COLOGNE this
time looked at the question of
regionality and sustainability,
which - according to one conclusion
- are gaining in relevance
during the crisis.
In recent months, consumers in
Germany have placed increasing
emphasis on shopping at
local retailers and on sustainability
- both online and offline.
Local online marketplaces were
also increasingly used during
the pandemic. The trend is rising,
especially among the
younger target group.
Support for local
retailers
When it comes to shopping, sustainability
and regionality are
increasingly important to consumers.
While around one-third
of respondents stated that they
had consciously supported local
retailers and paid more attention
to sustainable products in 2020,
this figure is likely to increase
further. Currently, around half
of respondents say they will buy
locally more often and pay more
attention to sustainability in the
future.
More than half (65 percent) of
the consumers surveyed find local
online platforms interesting.
This interest is evident across
all age groups, but is most pronounced
among 18- to 29-yearolds
(68 percent).
Actual use of local online marketplaces
has also increased
over the course of the pandemic
- by around three percentage
points to 15 percent of respondents.
Once again, it is primarily
younger people who are driving
this development. Overall,
a quarter (23 percent) of respondents
plan to shop via digital local
platforms in the future.

Page 2 T O M
NEWS
February 2021
HBB takes over
management of Petersbogen
Leasing of the Leipzig property also in the hands of the company
OFB Projektentwicklung,
builder and developer of the
Rée Carré in Offenburg‘s
city center, plans to open the
urban quarter on March 11
this year.
As the operator of Potsdamer
Platz has now announced,
Mattel will open its first European
entertainment center
of the type „Mission: Play!“
there in spring 2022 as part
of the neighborhood relaunch
by Brookfield Properties.
OFB Projektentwicklung wants to open the Offenburg Rée Carré
on March 11 - preferably with all retailers.
„We will open the Rée Carré
in a responsible manner, if the
regulations in force at that time
allow it,“ says Klaus Kirchberger,
CEO of OFB Projektentwicklung,
referring to the
ongoing COVID 19 pandemic.
„The safety of visitors and our
tenants is our top priority at all
times.“ If retail is not yet permitted
to open on March 11,
2021, no celebrations will take
place. In this case, only the
grocer Alnatura, the drugstore
dm, the bakery Dreher and the
parking garage will be able to
open.
Currently, the final finishing
measures are underway inside
the buildings. Tenants in the
Rée Carré already include Decathlon,
TK Maxx, dm Drogeriemarkt,
Alnatura, B+B Parkhaus,
CECIL, Jack & Jones,
Vero Moda, Ernstings Familiy,
Taumi, immergrün as well as
Offenburg entrepreneurs Juwelier
Spinner, Bäcker Dreher
and Mustafa Topcu with a Lotto-Toto
store. Overall, the Rée
Carré is already around 90 percent
leased despite the negative
impact of the pandemic.
„We have great understanding
for retailers who want to
receive customers as quickly
as possible. And we would of
course also like to open together
with all retailers. That‘s
why we hope that the pandemic
will greatly decrease and that
the authorities will be able to
release the stores again. When
that happens, we will definitely
be ready. In the meantime, we
are taking all precautions to ensure
that visitors can shop safely,“
adds Klaus Kirchberger.
„Mission: Play!“-center in Berlin
Family entertainment by Mattel in the arcades at Potsdamer Platz
The new attraction at Potsdamer Platz will be Matell‘s „Mission:
Play!“ leisure center starting in 2022. Visualization: Matell
Covering more than 4,000
square meters, Mattel‘s worldfamous
brands such as Barbie®,
Hot Wheels® and Mega
Bloks® can be experienced
up close in specially designed
areas. The leisure center combines
physical with digital play
experiences and also offers
educational programs, events
and experiential retail: Join
Barbie in a world where you
can be anything, strap in for a
challenge with Hot Wheels and
use your imagination to build
amazing creations with Mega
Bloks.
The site is being developed by
Dutch company iP2Development
B.V. and operated by Planet
Leisure Germany GmbH.
The Mattel-branded family
entertainment center reflects
owner Brookfield‘s vision for
repositioning Potsdamer Platz
as Berlin‘s premier address for
lifestyle, culinary and entertainment,
appealing to people
of all ages.
In 2020, Brookfield Properties
began a far-reaching redevelopment
of the Potsdamer Platz Arkaden
shopping center, which in
the future will offer around 90
retail stores and flagship stores
of well-known brands, including
in the areas of gastronomy,
sports and entertainment, and
mobility and leisure. Mattel‘s
entertainment center will also
be located in the new arcades at
Potsdamer Platz.
Kaufland officially
enters online retailing
As of March 1, Kaufland will be
visible for the first time as a new
operator on Real‘s previous online
marketplace. By mid-April,
the marketplace will be fully integrated
on kaufland.de. integrated.
In October, the Schwarz
Group acquired the online
marketplace real.de from SCP
Group. With more than 5000
retailers, it is one of the largest
German online marketplaces.
„The integration on kaufland.
de is the starting signal for us
to inspire our brick-and-mortar
retail customers for the offers of
our marketplace and - the other
way around - our marketplace
customers for the offers of our
Kaufland stores. Both worlds
will complement each other and
thus create real added value for
all customers,“ explains Rolf
Schumann, Chief Digital Officer
of the Schwarz Group.
From mid-April, customers will
be able to switch more quickly
between the offers of brick-andmortar
and online retail. Retailers
will benefit from the greater
reach of the Kaufland website,
which will enable them to tap
into new customer groups. „As
a next step, we are planning to
expand customer and retailer
services,“ says Schumann.
CBRE sees worst of
Corona crisis well
over
„We finished the full year 2020
on a high note. In the final quarter,
we achieved record adjusted
earnings per share and adjusted
EBITDA growth of nine percent,“
said Bob Sulentic, president
and chief executive officer
of CBRE.
„Our broad diversification
across four key areas - real estate
asset classes, lines of business,
geographic markets and client
groups - has served us well compared
to previous downturns,“
he continued. „Now, we have
weathered the worst of the Covid
19 crisis well, with a leaner
operating structure, significant
financial capacity and a strategy
that is precisely aligned with the
many opportunities that exist
in our industry, including those
with long-term trends. We have
built our long-term plan on the
assumption that office demand
will remain under pressure.“

Page 3 TOP STATEMENT OF THE MONTH February 2021
T O M
TOP STATEMENT
February
„There needs to be more networking
between retailers. In other areas, there
are already concepts such as co-living
and co-working. To ensure that
stationary retail retains its status,
co-retailing is now also the order of
the day. The future lies in thinking in
networks and creating connections.“
Sebastian Schels,
managing partner of
RATISBONA
( (Regensburg),
project developer of
retail real estate

Page 5 T O M
NEWS February 2021
HOLOGATE WORLD:
World premiere at FLAIR Fürth
P &P Group announces plans for spectacular virtual reality worlds
The world‘s leading company
for virtual reality experiences
HOLOGATE opens its
first HOLOGATE WORLD
at FLAIR Fürth. The most
modern experience world in
Germany is being created on
an area of 1200 square meters.
HOLOGATE WORLD stands
for virtual reality worlds with
an e-sports arena, escape rooms
and other impressive attractions.
„With the introduction and
inclusion of new, groundbreaking
entertainment options, HO-
LOGATE WORLD represents
the next level of immersive experiences
for the entire industry.
In addition to our one-of-akind
HOLOGATE ARENA and
BLITZ systems, HOLOGATE
WORLD offers additional attractions
for every age group,
providing fun for all. We are
very pleased to now be able to
realize this vision together with
P&P,“ said Leif Petersen, CEO
and founder of HOLOGATE.
Michael Peter, owner of the
P&P Group: „Our goal is to
create a lively experience platform
with the FLAIR and to
generate maximum frequencies
through the numerous offers.“
This is achieved through an
excellent tenant mix including
new outdoor gastronomy with
restaurants and cafés, an innovative
interior design with
comfort lounges and numerous
attractions such as an XXL
aquarium and a floor-spanning
slide. „We were also looking
Per fire letter: Retailers
demand rapid openings
HDE: Half of the closed stores in acute existential danger
At the end of February, the
currently closed retail sector
called on the federal government
as well as the prime ministers
to present the cancelled
plan to exit the lockdown
in a very timely manner.
The German Retail Association
(Handelsverband Deutschland,
HDE) and its member companies
expect a realistic step-bystep
plan to enable the rapid
opening of stores.
A recent HDE survey of more
than 2,000 retailers shows how
difficult the situation is for
many retailers in the lockdown.
According to the survey, more
than one in two companies sees
itself in danger of insolvency
without further help.
„Many retailers find themselves
in a dramatic situation. Without
With the HOLOGATE WORLD, the FLAIR Fürth will offer an exciting
VR world.
Visualization: HOLOGATE
for the ultimate entertainment
highlight for this vibrant lifestyle
location in the heart of
the city. With HOLOGATE
WORLD, we have found it and
can thus offer a new, incomparable
attraction that is unique in
this form worldwide,“ says Peter.
The HOLOGATE systems
offer a realistic VR experience
in an unprecedented dimension.
HOLOGATE WORLD will celebrate
its world premiere when
it opens in September 2021.
The HDE and its companies are demanding rapid opening prospects
from politicians. Symbol image: Pexels / Andrea Piacquadio
tailored government support
and no prospect of opening, the
lights will go out in many city
centers in the coming weeks,“
said HDE CEO Stefan Genth.
The latest HDE survey makes
it clear that more than 60 percent
of city center retailers see
themselves in danger of insolvency
this year without further
government assistance. One
reason for this is that state aid is
still often too bureaucratic and
too slow..
Discount retailer Aldi
to sell groceries
online soon
Discount giant Aldi plans to sell
nonfood as well as groceries
outside its own stores - and to
do so online, according to Lebensmittel
Zeitung. So far, the
company has left the field to
Amazon, Rewe and others in
Germany. The rules are strict,
because margins in the grocery
business are small. Aldi Süd
and Nord have therefore set up a
joint operating company for the
first time to make the nonfood
range more effective online and
to prepare for entry into online
food retailing
FCR Immobiien plans
to acquire properties
for around 160
million euros in 2021
FCR Immobilien AG has placed
a total of 616,593 new shares
at 10.80 euros per share as part
of its cash capital increase with
subscription rights. The gross
issue proceeds amount to approximately
6.7 million euros.
The inclusion of the new shares
in existing stock market trading
under the same ISIN in the regulated
market, General Standard,
is planned for February 19,
2021. The inflowing funds are
to be fully invested in the further
expansion of the real estate
portfolio. FCR Immobilien AG
plans to acquire properties for
the existing portfolio for around
€160 million this year.
IFH Study: Garden
Markets Achieve
Double-Digit Growth
in 2020
The German garden market enjoyed
visibly positive development
last year. Among other
things, fancy vacation trips and
few alternative spending options
led to significantly higher sales
in the Do-It-Yourself and garden
segments. Against the backdrop
of a very moderate rate of price
increases and according to current
projections, this means that
sales growth in the garden market
will amount to 10.2 percent
in 2020. For the overall market
volume, this means a record figure
of EUR 20.88 billion at end
consumer prices, which is equivalent
to an increase of more
than EUR 1.9 billion compared
with 2019.

www.wisag.de
Your shopping centre in the best hands
Perfect cleanliness, uncompromising security and optimum service:
all this keeps not only the customers satisfied, but also tenants and
owners. With our tailored solutions and experience, you will benefit
from optimum management costs. And at all times, we have value
retention and the sustained development of your centre in mind.
We go one step further for you.
Joaquin Jimenez Zabala
Tel. +49 162 7861-324 joaquin.jimenez.zabala@wisag.de

Page 7 T O M
ONLINE VS OFFLINE
February 2021
Product data as a growth driver
ECC COLOGNE presents study on omni-channel strategies
What can my product do,
where does it come from, and
are other users satisfied? A
recent study by ECC COLO-
GNE in collaboration with
atrify focuses on the role of
well-maintained and comprehensive
product information
in online shopping from the
perspective of retailers and
consumers and examines its
relevance.
No sufficient product content,
no purchase. This simple formula
with regard to product
information in online stores is
not new. However, the fact that
missing or insufficient product
information is one of the main
reasons for customer loss today
once again underlines the
relevance of this topic. Particularly
in the case of fast-moving
consumer goods (FMCG), 68
percent of consumers who canceled
an online order in the last
twelve months said they did so
because of missing or incorrect
product information. These are
the findings of the study „(R)
Evolution from Master Data
Management to Product Experience
Management“ by ECC
COLOGNE and atrify, which
examines both the consumer
perspective and the perspective
of retailers and manufacturers.
New customers very demanding
Around 77 percent of the consumers
surveyed agree with the
statement that they prefer to
order from an online store that
provides comprehensive product
information. And when it
comes to attracting new customers,
well-maintained product
data plays a particularly important
role. 78 percent of consumers
say they take a closer look
at product information when
they order from an online store
for the first time. When it comes
to price sensitivity, the study reveals
that around 27 percent of
respondents pay less attention
to the price if the product presentation
in the online store is
particularly appealing.
„Consumers expect products
they can experience digitally
when shopping online. The basis
for this is complete product
information, because it determines
the quality of the product
Consumers prefer to buy products online that are described in great detail.
Symbol image: Pexels / Anastasia Shuraeva
experience - the growth driver,
especially in new customer
business,“ says Arne Kuhlmann,
Vice President Marketing
& Digital Business at atrify,
commenting on the results of
the study.
From MDM to PXM
Efficient product data within the
framework of the historically
grown Master Data Management
(MDM), with the crosschannel
and cross-vendor specification
of product data, product
images, manufacturer information
or customer ratings, are today
considered a hygiene factor
from the consumer‘s point of
view. Product experience management
(PXM) enables retailers
and manufacturers to enrich
the buying experience with additional
information. For example,
around 58 percent of consumers
would like to see detailed
information on origin and production
methods on the screen.
Around one-fifth of respondents
would like to be able to view a
product using VR or AR technology.
The latter is particularly
popular with younger people
and smart consumers.
Growing pressure
to act
The importance of complete and
high-quality product content is
at least partially recognized on
the retailer and manufacturer
side. Nevertheless, due to a lack
of expertise, many companies
are reluctant to convert what are
still mostly manual processes
to automated systems. But the
pressure to become more efficient
in product data management
is growing. Not least due
to the pandemic online push,
which further increases the
competitive pressure for customers
online.
„Product experience management
offers a wide range of
opportunities for retailers and
manufacturers to differentiate
themselves from the competition
and strengthen customer
loyalty. However, not all companies
can handle the strategic
design of PXM on their own.
PXM experts or service providers
help to use the diversity
offered for their own business
in a meaningful way,“ says Mailin
Schmelter, Deputy Division
Manager at ECC COLOGNE,
on the results of the study.

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... to shopping star

Page 9 T O M
NEWS February 2021
RATISBONA wants to
focus more on green markets
42,000 square meters of rental space completed in 2020
The owner-managed RATIS-
BONA Handelsimmobilien
Group realized around 42,000
square meters of retail and
commercial rental space in
2020. In total, the Regensburg-based
company brought
29 real estate projects in Germany,
Spain and Portugal to
the finish line.
Despite the COVID 19 pandemic,
the project developer
specializing in grocery stores
and retail parks was thus able to
implement a high project volume
in 2020 as well. At the same
time, the company expanded its
mixed-use activities in Germany
and concluded three project
sales in this segment with a
combination of retail and residential
with a total gross floor
area of around 25,000 square
meters.
Of the 29 projects completed
last year, 26 were in Germany,
two in Spain and one in
Portugal. While RATISBONA
commercial real estate in Porto,
Portugal, put a listed former
port wine storage facility to a
new use with the Hotel da Ponte
and also implemented a nursing
home for the first time in
the Spanish city of Castellón de
la Plana, the focus in Germany
continued to be on local supply.
RATISBONA realized a large
proportion of the properties
for leading food retailers such
as NETTO Marken-Discount,
EDEKA, Rewe and Aldi.
In the process, the company
tested new approaches and also
New services in stationary
retail are expandable
IFH COLOGNE: Great potential for cross-channel offers
Public life is severely shut
down in the lockdown: Restrictions
that are increasingly
affecting people‘s moods. Online
retail continues to profit
from the crisis, while brickand-mortar
retailers are
using cross-channel approaches
such as click & collect to
reach customers even when
stores are closed.
Many consumers are interested
in the new services offered by
bricks-and-mortar retailers, but
they are not very well known
and therefore hardly used. These
and other results are provided
by the new Corona Consumer
Check of the IFH COLOGNE.
At the beginning of the new
year, the mood of Germans is
clouded by the ongoing corona
In Furth im Wald, RATISBONA realized a NETTO brand discount
store in timber construction. Photo: RATISBONA
Stationary retailers are increasingly
shifting to additional
channels such as sales in social
networks. Symbol image: Pexels
/ cottonbro
measures. A large proportion of
respondents say they are currently
annoyed (38 percent)
or tense (32 percent). Only 26
percent of respondents describe
implemented comparatively
new and sustainable planning
and construction solutions. In
the Bavarian town of Furth im
Wald, for example, RATISBO-
NA Handelsimmobilien realized
in the summer what was
only the second NETTO Marken-Discount
in Germany to
be built in wood. The project
developer had built the first of
its kind in the Upper Palatinate
community of Lappersdorf the
previous year.
themselves as relaxed, which is
lower than in all previous surveys.
Only 14 percent are anxious.
This figure is almost at the
same level as at the beginning
of the pandemic in March 2020.
The tense mood is also reflected
in consumer behavior. Currently,
37 percent say they are shopping
less than before the second
lockdown. Stationary purchases
are being deliberately shifted
online. The widespread closure
of the retail sector continues to
fuel online retailing.
34 percent of consumers surveyed
say they have deliberately
shifted purchases from stationary
retail to the online channel
- eight percentage points more
than at the end of last year‘s
Christmas shopping season.
REWE is strongest
brand among supermarkets
and
discounters
REWE came first in the industry
with 69.5 out of 100 points in
the „Splendid Research Brand
Index“, making it the strongest
brand among supermarkets and
discounters in Germany.
With 94.8 percent of the German
population, the Cologne-based
company not only
has the second-highest level of
awareness, but also achieves
the second-best result in terms
of overall brand image with
73.3 points. The brand image
is made up of the values of ten
different attributes. Here REWE
scores highly across the board,
above all with its high quality
(76.3 points), continuous further
development (70.1 points)
and attractiveness (70.4 points).
In January, the Hamburg-based
market research institute
„Splendid Research“ conducted
a representative survey of
almost 1,500 Germans between
the ages of 18 and 69 on the
subject of supermarkets/discounters.
In the same survey last
year, REWE had still been in
second place with 61.4 points.
REWE has thus improved its
ranking by eight points within
the space of a year.
„Kaufhaus Österreich“
became an
expensive flop
The online platform „Kaufhaus
Österreich“ was supposed to
make the online stores of Austrian
retailers easier to find and
encourage people to buy regionally
online. It turned out to
be an expensive flop. Minister
of Economics and Digitization
Margarete Schramböck had set
her sights on nothing less than
the fight against Amazon when
she announced an Austria-wide
e-commerce platform shortly
after the Europe-wide Corona
outbreak in the spring. Within
two months, she announced, the
„meta-platform“ would go online,
and it would hardly cost
any money because it would
use the company database of
the Austrian Federal Economic
Chamber. Strangely enough, it
took not two, but six months,
was even twice as expensive as
planned - and after two months,
due to lack of success, the attack
on Amazon was already over
again.

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Page 11 T O M
ANALYSES February 2021
Where downtowns should tackle
IFH research for vital cities after Corona
The Corona pandemic and
the associated retail shutdown
are hitting city centers hard.
Against this backdrop, the latest
study by IFH COLOGNE,
„Vitale Innenstädte,“ analyzes
attractiveness features of
German city centers and identifies
options for action for the
post-Corona period.
Conclusion: adjusting screws
are target groups, experience
value and the retail trade. „This
year, our survey on the attractiveness
of German city centers
has a very special relevance.
Although the participating cities
were for the most part rated quite
positively, the transformation
process must now be initiated,
because the Corona pandemic
has further accelerated structural
change enormously,“ summarizes
Dr. Markus Preißner,
scientific director at IFH CO-
LOGNE.
Top driver of the
experience value
Stationary retail plays a key role
in determining how attractive
and experience-oriented German
city centers are perceived
to be. Attractions as well as leisure
and cultural offerings are
also top drivers of experiential
value. In order to make city centers
more attractive - not least to
revitalize the closed city centers
after Corona - it is essential to
bring together those responsible
from cities, retail and the real
estate industry.
Digitization and a future-oriented
positioning of cities - for
example, through the appropriate
online presence - are
also often still a shortcoming.
According to IFH COLOGNE,
there is a need for action here -
after all, two-thirds of visitors to
city centers (also) shop online.
A dynamic that has been reinforced
by Corona. Cities must
also become more attractive for
younger target groups.
Motives for visiting
The classic shopping trip is the
main motive for visiting city
centers - especially for older
people (65 percent). Among
Many people come to the city centers primarily for the classic shopping trip.
Symbol image: Pexels / Andrea Piacquadio
younger people under 25, half
say they come to town to shop.
On the other hand, younger people
visit the city center more
often for gastronomy or visits
to the authorities/doctors than
older people.
All pulling in
the same direction
In practice, this means that a
look at the population structure
and the specific needs of the
local target groups is essential
when designing sustainable
downtown models. „Especially
for the revitalization of downtown
locations after the corona
lockdown, purely supplier-centric
strategies must give way
to demand-driven concepts. All
power, as we all know, emanates
locally from the visitors.
That‘s why the focus is not on
radical disruption, but on constant
and balanced adaptation
to local needs,“ explains Boris
Hedde, Managing Director of
IFH COLOGNE.
Some partners also contributed
their input to the debate. Stefan
Genth, Managing Director of
the German Retail Association
(HDE): „If retail dies, the city
dies. For many people, shopping
is and will remain the
number one reason for visiting
a city center. Overall, however,
the mix of local offerings and
uses must be right. That‘s why
we need an inner city fund that
enables cities and municipalities
to cleanly determine local needs
and take appropriate measures
for a healthy city center.
To this end, 500 million euros
should be made available annually
over the next five years, for
example, to create a nationwide
vacancy register and to draw up
suitable downtown concepts individually
for each city and each
municipality. Everyone involved
must pull together to ensure
that our city centers can still be
vital and attractive tomorrow.“
Adapting to
demands
Jürgen Block, Managing Director
of Bundesvereinigung Cityund
Stadtmarketing Deutschland
(bcsd): „The study shows:
If our city centers are to remain
attractive, urban development
must be thought out in terms of
people‘s needs. They want to
get supplies in the city, but the
younger respondents in particular
also want to experience
something and meet each other.
Stationary retail must adapt to
these demands and only works
if it is designed to be personal as
well as service- and experienceoriented
and sees itself as part of
the urban society.“
Around 58,000 passers-by in
107 German city centers were
interviewed for the study last
fall.

Page 13 T O M
ANALYSES February 2021
Europe‘s EH markets stop slide
GfK and Union Investment: Global Retail Attractiveness Index recovers rapidly
The first pan-European lockdown
in spring 2020 sent retail
markets from Scandinavia
to the Iberian Peninsula into a
state of collective shock never
before experienced. Correspondingly,
the barometer of
the European retail industry,
the Global Retail Attractiveness
Index (GRAI), had plummeted
to a historic low of 89
points in the second quarter.
However, a deeper plunge appears
to have been halted. This is
the conclusion reached by GfK
and Union Investment, which
have been surveying the GRAI
for 20 countries worldwide since
2017. Even if retailer and
consumer sentiment remains
stuck in a Corona low, the rapid
return of the GRAI (EU-15 Index)
to 100 points in the fourth
quarter of 2020 can be seen as
an indicator of an end to the extremely
steep decline.
For the time being, the negative
trend was cushioned by the labor
market, which showed stable
development in many parts
of Europe in the fourth quarter
and, at 123 points, formed the
strongest pillar among the four
sub-indicators of the GRAI.
Here, France, Italy, the Netherlands
and Belgium in particular
posted good figures. The second
pillar was retail sales (105
points). In ten of the 15 countries
surveyed, the sales trend
was upward. Overall, however,
the GRAI for Europe was ten
points down on the previous
year.
No highs
„The sentiment in the retail setor
and also on the consumer
side does not currently allow for
any flights of fancy for the retail
index,“ says Henrike Waldburg,
Head of Investment Management
Retail at Union Investment.
With significant losses
over the course of the year of
minus 26 and minus 16 points,
respectively, the two sentiment
measures of the GRAI reached a
significantly below-average level
of 89 and 85 points, respectively.
It should also be noted
that the labor market is a lagging
indicator. „A prolonged recession
with more sharply rising
unemployment figures is likely
GfK and Union Investment surveyed the GRAI for the global retail markets.
to be reflected in the index in the
future,“ says Henrike Waldburg.
In the fourth quarter, the German
retail market presented
itself in surprisingly good shape,
equal to a special economic
situation. With 115 points
(minus eight points compared
to Q4 2019), Germany remains
the clear leader in a weakening
environment. The leading trio
in Q4 2020 is now Germany,
the Czech Republic (107 points)
and Ireland (104 points). Also
still making above-average
contributions to the European
Retail Index are Denmark (103
points) and Belgium and Poland
with 101 points each.
The latter despite significant
losses compared with the previous
year. In the course of the
year, Austria and Portugal suffered
the most significant losses
in the Retail Index, with a drop
of 21 points each, followed by
Spain (minus 19 points). Austria,
with just 84 points, brought
up the rear in the fourth quarter,
with Spain and Sweden taking
the places before it with 86
points each.
With strong consumer optimism
and a positive retail sales trend
behind it, Denmark presents itself
as the only European country
in the EU-15 index to improve
slightly compared to the
fourth quarter of 2019, with an
increase of three points.
„Even though second and third
lockdowns and rising concerns
about jobs among consumers
and economic livelihoods
among retailers, respectively,
have led to losses in the Retail
Index in almost all European
countries over the course of the
year - ranging from low: see
Germany, Ireland or the UK to
strong: see Austria, for example
- many European retail markets
show a certain resilience in the
crisis. Especially compared to
international markets such as
Japan or Canada, where much
stronger fluctuations can currently
be observed,“ says Olaf
Janßen, Head of Real Estate Research
at Union Investment.
Opportunities in
cross-over concepts
„The transformation is in full
swing,“ says Henrike Waldburg
„The Corona crisis as an amplifier
of sustainable trends will separate
the wheat from the chaff
and completely redefine which
retail property with which retail
concept and which tenant structure
will deserve the predicate
core in the future. However, in
the strong European markets
that pass the crash test, there
will also be opportunities for investors
in the future. These include
new cross-over concepts
that combine retail with exciting
other uses.“
Overall, the European Retail
Index (100 points) continues
to hold off international indices,
both in North America (92
points) and Asia/Pacific (84
points), where the global recession
is being felt much more
acutely as a result of the pandemic.
Compared with Europe
(minus ten points), the losses
for the index in North America
were somewhat smaller (minus
seven points). Supported by a
strong increase in trader sentiment,
the index in the USA suffered
only moderate losses, but
nevertheless finished with weak
values (94 points). However, the
USA is unable to compensate
for the negative impact on the
North America Index by Canada,
which loses 18 points yearon-year.
In the fourth quarter of
2020, Canada still carries the
red lantern among the 20 countries
covered by the GRAI with a
score of just 77 points.
In the Asia-Pacific region, the
GRAI shows somewhat heavier
losses over the course of the year
than Europe and North America
- the losses total 15 points. The
key factor here is Japan, where
all four sub-indicators, particularly
labor market data and the
associated consumer sentiment,
are worse than in the last survey.

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Page 15 T O M
NEWS February 2021
URW Germany is Top Employer
Award received for the third year in a row
Unibail-Rodamco-Westfield
(URW) Germany has been
named a Top Employer in
Germany by the Top Employers
Institute for the third
year in a row. The independent
institute certifies companies
worldwide that place
their employees at the center
of their business activities and
offer them an outstanding
working environment.
As part of the certification process,
URW‘s value system,
ethics and integrity, and continuous
investment in employee
development were cited as
outstanding areas of human resources
and organization. The
company recorded the greatest
improvements compared to the
previous year in the fields of
on-boarding and well-being,
among others.
„Since the beginning of the
coronavirus pandemic, the industry,
individual companies,
but also all employees, both
professional and personal, have
faced great challenges. However,
especially in these times of
crisis, we count particularly on
the commitment, passion and
talent of our teams,“ explains
Claudia Karschti, Director of
Human Resources at Unibail-
Rodamco-Westfield in Germany.
„That‘s why our efforts
in 2020 were also focused on
responding to the needs of our
employees and making their
working environment the best
it can be. We have therefore
focused in particular on further
intensifying our Well-Being offerings,
including for the home
office and during lockdowns.
We are pleased that this aspect
in particular was highlighted in
the certification by the Top Employers
Institute. This spurs us
on - despite all the challenges
- to remain one of the best employers
in Europe in the coming
years.“
The focus of HR work at Unibail-Rodamco-Westfield
in
2021 will primarily be on further
pushing the Well-Being
program, on employer branding,
diversity and inclusion,
and on further shaping the
corporate culture. Since the beginning
of the crisis, URW has
increasingly established a hybrid
culture that creates a balance
between social and personal
interaction in the offices on the
one hand and flexible work in
the home office on the other. In
addition, there is still an explicit
focus on career and employee
development.
IPH strengthens high-street
expertise with Alexandra Gradl
New competence team around experienced specialist
IPH Handelsimmobilien is
consistently pursuing its strategy
of comprehensively expanding
its retail leasing competence
and has appointed
Alexandra Gradl as Head of
the Highstreet business.
The newly created Highstreet
competence team bundles all
activities related to high-street
properties and mandates of the
IPH Group, in particular the
areas of consulting and leasing.
In this way, IPH also takes
into account the corresponding
customer requirements, as the
challenges of the market can
only be successfully mastered
through intensive cooperation
Claudia Karschti, Director of Human Resources at Unibail-Rodamco-Westfield.
Alexandra Gradl is the new
head of the highstreet business
at IPH Handelsimmobilien.
Photo: IPH Handelsimmobilien
between the experts for shopping
centers, retail parks and
highstreet.
„After we were able to strengthen
ourselves specifically in
the shopping center sector with
Marcus Eggers as the new Managing
Director of IPH Centermanagement,
we are now
pleased to be able to follow
suit in the highstreet business.
Alexandra Gradl is a great addition
to our team, especially
in Southern Germany, due to
her excellent track record and
her many years of leasing expertise
in the retail high-street
segment,“ comments Lars Jähnichen,
Managing Director of
IPH Handelsimmobilien.
Sebastian Mueller
(formerly GfK) now
head of advisory at
Kintyre
In response to the current dislocation
in the retail investment
and occupier market, Kintyre
has launched an Advisory business
to provide current asset
owners with a detailed analysis
of the optimal potential for
their asset. Kintyre‘s Advisory
business focuses on the repositioning,
redevelopment, remodeling
and/or expansion opportunities
of a specific property,
with this analysis based on the
track record and experience of
the entire Kintyre organization
as a value-add retail specialist.
Kintyre was able to recruit Sebastian
Müller to head up this
newly formed business unit.
The former real estate sage
(ZIA) has more than 15 years of
experience in the real estate industry
and most recently led the
pan-European Retail & Real Estate
consulting business at GfK.
As a new member of the senior
management team, he will contribute
his knowledge of locations,
concepts, trends and data
analytics as well as for the creation
of strategic redevelopment
concepts.
Klépierre has a new
head of leasing in
Markus Schwarting
Markus Schwarting (32) joined
Klépierre as its new Head of Leasing
on March 1. In this role, he
will be responsible for the German
and Dutch markets and is a
member of the respective national
management teams. He will
be responsible for developing
and implementing the leasing
strategy for the portfolio, which
includes iconic centers such as
Centrum Galerie Dresden and
Hoog Catharijne in Utrecht.
Schwarting worked in various
positions at ECE Marketplaces
GmbH & Co.KG for six years,
most recently in the International
Key Account Leasing team.
Globus to take over
16 Real stores
Globus is pushing ahead with
the Real project: the large goods
supplier has concluded agreements
for the takeover of 16
locations. This is reported by
Lebensmittel Zeitung. Above
all, stores in NRW are to be
transferred to the Saarland-based
company.

Page 16 T O M
INTERVIEW
February 2021
„Individualization will increase
significantly in the near future“
Outlook interview with Richard Gerritsen, Regional Director Europe at software company Yardi
How will the tech revolution
impact the real estate industry?
In an interview with
TOM, Richard Gerritsen,
Regional Director Europe at
Yardi, talked about unstoppable
technological innovations,
consumers who will take
a central role and promising
opportunities for new services.
„There are some fundamental
changes ahead of us in the next
few decades. Even after the CO-
VID-19 pandemic ends, we‘re
not going to shimmy from one
static situation to the next. Absolutely
not. We are already in
the midst of a transformation
process - and it will continue for
several years. Not everything
will always go smoothly. We
are currently experiencing very
major upheavals. This trend will
continue for a while.“
TOM: Where do we go from
here?
Richard Gerritsen: „The consumer
will take on a very different
importance. People will be
perceived even more as individual
consumers in the future.
But these consumers are not
defenseless victims. The trend
is to see the tenants of a house,
the users of an office and the
visitors to a shopping center as
consumers. And everything that
is offered is offered to one personally.
That means each individual
can respond directly to the
offer - with their smartphone or
its successor, whatever that may
be.“
Richard Gerritsen, regional director Europe at software company
Yardi.
Photo: Yardi
TOM: What does that mean
for the real estate industry?
Richard Gerritsen: „The user
of an office can himself directly
determine which premises
he wants to use during the day
- first a specific work area for
a few hours and a conference
room in the afternoon. He books
both in a straightforward manner,
without having to click 23
times. This is where the technology
shift comes in: everything
has to be as simple as possible,
and it will be. If I can easily order
a pizza, then it‘s just as technically
possible to organize my
day. So far, the focus is still on
the building, when technology
should be much more focused
on the user - that is, the consumer.“
TOM: Real estate companies
can‘t ignore this, can they?
Richard Gerritsen: „You can‘t
expect the user to adapt to the
building. Rather, the real estate
company will have to adapt to
the user. That, too, is a process.
We don‘t really know the user‘s
needs yet. Employers aren‘t really
aware of them yet either.
And if even the employer doesn‘t
know them yet, it‘s even
more difficult for the real estate
owner to find out about these
needs. But that doesn‘t mean we
have to do complicated research
now. Instead, we can use some
very affordable technologies
that are already available, such
as sensors in smart buildings or
the Internet of Things. Using
these technologies, we can learn
a lot about how spaces are used.
And it even goes one step further:
this data needs to be analyzed
to figure out what (new)
services can be offered.“
TOM: For you, this transformation
is the logical consequence
of how real estate is
used today, isn‘t it?
Richard Gerritsen: „It‘s no
longer about a certain number
of square meters, but about an
attractive location for employees
and customers. It‘s about
finding a place where people
feel comfortable and are therefore
productive.“
TOM: So do property owners
need to be more flexible in responding
to demand?
Richard Gerritsen: „Definitely
yes. Building owners need
to focus on the occupant, not
the tenant. That means a lot of
work and requires some rethinking,
but this change also offers
the opportunity to offer various
other services. This is not a new
phenomenon. Retail has long
been about putting together the
right mix of stores, planning
locations and thinking about
target groups and how to invite
customers to stay longer.“
TOM: Do you think a personal
approach will become increasingly
important not only
for office buildings, but also in
public spaces?
Richard Gerritsen: „Yes. And
this change will have an impact
on the private home as well,“ he
said. „Our home will be the central
place where we live, work
and spend our leisure time.
People with an urban lifestyle
will grow together into communities,
as we can already see in
American cities. Like-minded
people will come together - all
living in the place and neighborhood
of their choice. This inevitably
creates a need for co-working
spaces.“
TOM: Is this trend adequately
understood?
Richard Gerritsen: „Ultimately,
tenants don‘t want to commit
to a specific square footage for
years; they need a flexible work
environment. That may make it
more difficult to value a property,
but we need to find a good
compromise between fixed and
flexible use.“
T O M
TOPS OF THE MONTH
Essential News About The Players In
The Retail Property Market In Germany
IMPRINT
Publisher:
Handelsimmobilien Heute Verlagsgesellschaft
mbH
Address:
Alexanderstraße 16
45130 Essen
Germany
Tel. 0049-201-874 55 28
Web: www.hi-heute.de
Mail: tom@hi-heute.de
Frequency of publication:
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Circulation: approx. 5000 copies
sent by e-mail
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Thorsten Müller
Responsible in terms of press
law: Thorsten Müller
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