TOM 08 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
August 2021
Gastronomy improves the quality of stay in city centres.
Symbol image: Pixabay / Peter H
Gastronomy main companion
for city centre revitalisation
Current study by IFH COLOGNE and METRO shows elementary importance of the sector
The importance of gastronomy
for the (re)revitalisation of
cities is shown by the current
study „#Innenstadtinitiative“
by IFH COLOGNE and ME-
TRO AG. It is dedicated to the
needs of small and medium-sized
gastronomy businesses.
250 restaurateurs were surveyed
in July 2021 about current challenges,
their future plans and
requirements for the city centre
location. The aim of the study
is to identify initial approaches
to political action in urban and
neighbourhood development.
„After the comprehensive analyses,
now is the time for action.
The order of the day for all local
actors is to work together to
increase the attractiveness of the
cities and to serve new functions.
In close cooperation with the
municipality, retail, but also with
new partners such as culture,
crafts and education, it is important
for restaurateurs to actively
participate now in order to realise
new city centre concepts,“
says Boris Hedde, city centre
expert and managing director of
IFH COLOGNE.
Places to go out are a central factor
for inner city development,
because they have a positive
effect on the atmosphere of the
location and increase the length
of stay of visitors. Across all
ages, the motives for visiting city
centres continue to be the culinary
experience, going out and
shopping. In order to make city
centres fit for the future, gastronomy
businesses must therefore
be given greater consideration in
urban development.
„The results of the study show
that lively city centres cannot
be created without gastronomy.
For this, politics must be a pioneer.
The clear requirements in
the location factors, such as the
allocation of rental locations to
entrepreneurs, must be simplified
in order to give small businesses
a chance. The industry has
its sights firmly set on the future,
and this is an opportunity for
all players,“ says Ivonne Julitta
Bollow, Global Director Public
Policy at METRO AG.
Currently, about 60 percent of
the gastronomers assess the situation
as medium to very bad.
Nevertheless, the industry is
looking to the future with motivation.
Planning for the future
is made more difficult by the
search for suitable and qualified
staff (71 percent) and dealing
with authorities (52 percent).
Another problem in the eyes of
many restaurateurs is the allocation
of locations. The majority
of respondents criticise that the
rents for attractive locations are
too high (46 percent). The nontransparent
allocation „under the
table“ is also a problem for restaurateurs
(43 percent).
An active promotion of the policy
of targeted mixed use and conversion
on the part of the tenants
can provide a remedy in order
to also offer small gastronomy
businesses attractive locations. It
is precisely the owner-operated,
small restaurants and cafés that
bring a city centre to life. Similarly,
a municipal platform for
the allocation of restaurant space
can provide transparency about
the local real estate market.
Cleanliness and ambience (69
percent), number of potential
customers in the catchment area
(68 percent) as well as public
transport connections (66 percent)
and good accessibility
for suppliers (63 percent) - the
framework conditions of the
surroundings play an important
role in the choice of location.
Here, politics is called upon to
create diverse mobility concepts
for visitors and to promote the
urban ambience. This requires
clean pedestrian zones, intact
buildings and facades, sufficient
green spaces and more liveliness
in the city centres.

Page 2 T O M
NEWS
August 2021
Premiere for IoT sensors
in ECE shopping centres
Connect & Protect by Chubb in Munich‘s Olympia shopping centre
Industrial insurer Chubb has
just announced the installation
of Internet of Things (IoT)
sensors from Munich Re‘s
Connect & Protect service in
a shopping centre operated
by ECE in Germany.
MEC, the retail property manager
and national market
leader for the operation of
retail parks, wins the food retailer
Kaufland as an anchor
tenant at three locations.
After the closure of former Real
stores, MEC, Kaufland and the
owners developed location-appropriate
utilisation concepts
within a very short time. A
Kaufland shop has just opened
in the Breisgau Center Freiburg
as well as in the Löwen Center
Leipzig. In July, another Kaufland
shop was opened in the
ORO Schwabach.
The shops remained closed for
only two days, during which
time they were supplied with
new merchandise, the fruit
and vegetable departments
were rebuilt, and the scale
and checkout systems were
replaced. The conversion to
In the Olympia shopping centre in Munich, 44 sensors now monitor
water and temperature levels, for example. Photo: ECE
The installation was carried
out at the Olympia-Einkaufszentrum
München (OEZ). In
cooperation with ECE and
Chubb‘s partner Munich Re,
the technicians installed a total
of 44 sensors to monitor various
parameters such as water
and temperature levels. With
the help of the alarm system,
which sends a warning message
to the mobile phone via SMS as
well as e-mail when a danger is
detected, possible water damage
can be detected and prevented
in time.
„We are very pleased to be able
to support an innovative company
like the ECE Group with
modern loss prevention. Intelligent
early warning systems are
particularly valuable for areas
that are susceptible to faults and
are not permanently monitored
by human intervention, as they
can reduce the extent of damage
and thus also the costs.
The successful installation at
ECE in Munich‘s Olympia
shopping centre is a milestone
in our global cooperation with
the Munich Re Group, which
the modern Kaufland concept
took place during ongoing
operations. MEC operates the
Löwen Center Leipzig on behalf
of Nuveen Real Estate. At
the Breisgau Center Freiburg,
MEC is responsible for the holistic
real estate operation on
behalf of Union Investment.
„MEC accompanied the process
of lease negotiations
smoothly and will carry out
has been in place for several
years. In addition to the previous
offering for shopping centres,
hotels, commercial and
administrative properties, we
have therefore also extended
our solution to hospitals and
care facilities,“ explains Andreas
Wania, Regional Executive
Officer Eastern Region and
Chief Representative of Chubb
in Germany.
MEC brings Kaufland on board
three times as anchor tenant
Location-appropriate utilisation concepts developed
With Kaufland, a strong anchor tenant is moving into both the
Breisgau Center Freiburg and the Löwen Center Leipzig.
Photo: MEC
the specific conversions for the
new anchor tenant at Löwen
Center Leipzig, from general
technical support to construction
controlling. In addition,
the aforementioned services as
well as the general planning
services for the restructuring
of the remaining centre space
will be provided,“ says Tobias
Kroczek, Senior Portfolio Manager,
Nuveen Real Estate.
First Ralph Lauren café
opens in Germany
After Tokyo, Hong Kong, Kyoto
and New York, a Ralph Lauren
café is now opening in Germany.
The coffee shop of the American
fashion company is located on
the ground floor of the Munich
department stores‘ Lodenfrey -
and is the first Ralph‘s Coffee
in the whole of Europe. Fashion
designer Ralph Lauren founded
the eponymous company in 1967.
Over time, the brand diversified
its product portfolio and today
offers clothing and accessory
collections for women, men and
children as well as fragrances and
home textiles. In addition, the
Ralph Lauren Corporation also
operates restaurants in New York,
Chicago and Paris as well as the
Ralph‘s Coffee chain.
Over 80 per cent fewer
department stores in
the UK since 2016
The death of department stores
in the UK has proceeded at a rapid
pace over the past five years,
according to a report. The BBC
reported, citing a statement from
CoStar, an analysis firm specialising
in commercial real estate,
that the number of department
stores‘ branches in the country
has declined by more than 83 per
cent since 2016. According to the
report, the largest chains BHS
(British Home Stores), Beales,
Debenhams and House of Fraser
had a total of 467 shops five years
ago. Two of the companies,
BHS and Debenhams, no longer
exist as independent department
stores‘ chains.
Trei Real Estate: Assets
under Management at
1.3 billion euros
Trei Real Estate GmbH, international
project developer and portfolio
holder for residential and
retail real estate, presented its figures
for the first half of the year:
As of 30 June, assets under management
comprised properties
worth 1.3 billion euros. Of this
amount, 1.2 billion is own stock,
another 100 million are managed
for third parties. The project development
pipeline amounted to
1.2 billion euros. The three values
mentioned remained unchanged
in the first half of 2021. Of the 1.2
billion development pipeline, 1.0
billion is attributable to the residential
use type and 200 million
to retail. .

Page 3 T O M
TOP STATEMENT OF THE MONTH August 2021
TOP STATEMENT
August
„„In the transition
from lockdown to opening,
the shops in the
city districts did particularly
well because
people tended to shop
where they live. The
city centres, on the
other hand, were not
so busy. But things
are slowly turning
around. In addition,
the frequency always
depends on the toilet
and restaurant situation.
If these things are
available again, people
are more relaxed and
go into the city.“
Thorsten Mindermann, head of
H&M Germany, in an interview
with the German magazine Textilwirtschaft.

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Page 5 T O M
ANALYSES August 2021
Economic euphoria
is currently waning
GfK Germany observes decline in propensity to buy
According to the latest GfK
consumer climate survey, consumer
sentiment is somewhat
more moderate in August.
While income expectations
rose slightly, both economic
expectations and propensity
to buy declined.
GfK forecasts a consumer climate
of -1.2 points in September,
0.8 points lower than in August.
In addition, an increasing
propensity to save in August is
currently causing the consumer
climate to decline.
Noticeable
uncertainty
GfK consumer expert Rolf
Bürkl: „Significantly rising incidences,
a slackening of the
vaccination momentum as well
as the discussions about how to
deal with unvaccinated persons
in the future have noticeably
unsettled consumers. They fear
that restrictions could even be
tightened again. This is obviously
depressing consumer sentiment
at the moment.“
In addition, the topic of inflation
is suddenly playing a role again
in the discussion about economic
development in Germany.
According to the Federal Statistical
Office, the cost of living
rose by 3.8 per cent in July this
year. The last time there was a
higher rate of price increase was
in December 1993, when it was
4.3 per cent.
Prices
rise rapidly
Bürkl: „Prices have been rising
rapidly since the middle of this
year. Experience shows that this
has a dampening effect on consumer
sentiment. Although these
are primarily one-off effects
due to the lowering of VAT in
the second half of 2020, private
households perceive inflation
rates as even more threatening
to their purchasing power in
view of the ongoing low-interest
phase.“
Little happening in the shopping streets? According to the GfK study, the economic euphoria has waned.
Symbol image: Pixabay / Isa Marinescu
After reaching a ten-year high
in June 2021, consumer euphoria
is fading with regard to the
further economic development
in Germany.
In August, economic expectations
suffer losses for the second
time in a row. After losses of
13.8 points, the indicator drops
to 40.8 points.
Economy
on the upswing
Despite the losses, economic
expectations are still at an extremely
high level. This is also
shown by the corresponding year-on-year
comparison, which
is very clear at plus 29.1 points.
Consumers continue to see the
German economy in an upswing,
even though they believe
that the momentum is likely to
slow down somewhat.
Buying mood
is subdued
In contrast to the economic expectations,
the income outlook
maintains its good level. The
income expectations indicator
even gained slightly (+1.5
points). Currently, the income
sentiment indicator is at 30.5
points. This is just under 18
points above the corresponding
value for the previous year. So
far, the income outlook does
not seem to have been affected
by the stronger rise in prices.
A stable employment situation
and the associated low fear of
losing one‘s job are stabilising
the indicator.
The propensity to buy apparently
cannot benefit from the
slightly rising income outlook
in August. The indicator lost
4.5 points and slipped to 10.3
points. Compared to the same
period last year, the propensity
to buy is down by a good 33
points.
Despite well-filled wallets, consumer
sentiment is still subdued.
An unadulterated shopping
experience is still not possible
in view of compulsory masks
and distance rules. In addition,
rising prices are also likely to
depress the propensity to consume.

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Your shopping centre in the best hands
Perfect cleanliness, uncompromising security and optimum service:
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owners. With our tailored solutions and experience, you will benefit
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Page 7 T O M
NEWS August 2021
TRIO Mannheim: New concept for
established commercial building
Workspaces complement Peek & Cloppenburg‘s retail space
The New Work experts at the
consultancy and architecture
firm CSMM have developed
a fundamentally new utilisation
concept for Peek & Cloppenburg‘s
Weltstadthaus in
Mannheim‘s prime city centre
location.
Originally planned in 2007 entirely
as a retail building, in future
there will be an innovative office
use on floors two to four in
addition to the generous shopping
areas of Peek & Cloppenburg
on the basement, ground
floor and first floor. Consistently
attuned to the changing way
of working, flexible workspaces
will be created in the mixed-use
property by the end of 2022 on
6200 square metres, which can
be adapted to the wishes of the
various future tenants. Timo
Brehme, managing partner at
CSMM: „This project of the
owner and asset manager Horn
Grundbesitz KG with Peek &
Cloppenburg shows the potential
that can be tapped for city
centres when changes are actively
initiated. A well-established
shopping location remains,
but is adapted in type and scope
to the changed shopping behaviour.
A flexible office concept
with space for interaction offers
the opportunity to attract attractive
workplaces to the city
centre.
Supermarket chain EDEKA converts
small-space stores in a modern way
New sales format offers more convenience and sustainable design
By 2026, EDEKA Minden-
Hannover will consistently
convert its discount V distribution
channel NP into EDE-
KA or nah & gut stores by
2026.
A successful example of the conversion of retail space: the workspaces
in Peek & Cloppenburg‘s Weltstadthaus. Visualisation: CSMM
.The NP store in Bremen-Marßel opened a few days ago as an
EDEKA store.
Photo: EDEKA
The aim is to develop all 330
stores, which are generally
small in size (less than 1,000
square metres) in the sales area,
into reliable and attractive local
suppliers, thereby strengthening
them economically and securing
jobs in the long term. For
this conversion, EDEKA Minden-Hannover
has developed a
corresponding small-space concept.
This includes equipping
the stores with attractive shopfitting
elements and significantly
expanded assortments from
around 6,500 articles today to
over 10,000 articles in the future,
in which the EDEKA variety
is reflected. About two thirds of
today‘s NP stores will be converted
into nah & gut stores,
about one third of today‘s NP
stores will be transferred into
EDEKA stores.
This also includes the former
NP store at Stockholmer Straße
27 in Bremen-Marßel - an
example of the company‘s strategy
regarding their small formats.
The new EDEKA store
opened there a few days ago
and offers an improved shopping
experience with significantly
more choice. Because
from now on, the team places
even greater emphasis on regional
products, a varied selection
of fresh fruit and vegetables, as
well as self-service meat and
baked goods. Expert staff at the
service counters provide advice
on the wide range of 120 sausage
and cheese products. The
team around store manager
Angela Nobel is pleased to welcome
their customers to a sales
area that has been enlarged
by 300 to 1300 square metres.
With the renovation, the market
is now well positioned for the
future and ensures local supply
with 15,000 different articles.
Ikea plans new
shop concept:
„Home Experience of
Tomorrow
The Swedish furniture group
Ikea is planning a new shop
concept. As reported by the Lebensmittelzeitung,
the typical
round tour is to be dropped - initially
on a trial basis at just one
location - and instead something
Ikea calls „Home Experience of
Tomorrow“ is to be created. The
focus is to be on „emotional
and encouraging customer experiences“.
According to the report,
the traditional Ikea set-up
of walking through simulated
living spaces is to be replaced
with a mix of open spaces where
customers can interact with
each other and retreats where
they can relax. According to
the report, there will be workshops
in so-called „community
hubs“ on topics such as circular
economy, sustainable living and
furnishing trends. Experience
and knowledge, for example on
repairing objects, will also be
shared with others. In addition,
there will be a broadcasting
centre where employees will
produce content together with
influencers
NUVEEN managing
director Thilo Wagner
has joined VALUES
VALUES Real Estate has appointed
Thilo Wagner (52) as Managing
Director of the newly established
VALUES Health and
Social Infrastructure division
and the existing VALUES Prime
Locations division with effect
from 1 August. From this position,
he is to further strengthen
and bundle the diverse activities
of the real estate acquisition and
asset management team with his
many years of acquisition and
investment experience. Thilo
Wagner has more than 25 years
of experience in the real estate
investment business, most
recently almost 20 years with
the American-British Nuveen
and its predecessor companies
TH Real Estate and Henderson
Global Investors. As Managing
Director, he was responsible for
the German investment business
for more than ten years. He also
built up and led several teams
for pan-European investments
in Austria and the Benelux
countries.

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Page 9 T O M
NEWS August 2021
Foodcourt in Düsseldorf‘s
KII continues to grow
New addition coffee roastery complements wide culinary offer
The award-winning Düsseldorf
commercial building KII
continues to approach full
occupancy. The last spaces in
the food court are also currently
being let.
The KII with the largest green façade in Europe also offers a wide
The latest tenant is SAMYJU
Kaffeerösterei, which will in
future present and serve visitors
to KII sustainably produced and
fairly traded coffee specialities
from all over the world in 84
square metres of shop space.
SAMYJU is already known for
its novel concept in the region.
Back in 2019, coffee enthusiasts
Sayed Issa and Justina
Rokita established the headquarters
of their unusual coffee
roasting company at Gut Dyckhof
in Meerbusch - with great
success.
They are now opening their
first branch in KII, where they
also invite you to take a taste
journey to the most diverse coffee-growing
regions around the
world. Whether enjoyed directly
in the shop or bought for your
own preparation at home, a de-
culinary spectrum.
tailed consultation is always
part of the experience. Under
the slogan „We take care!“, the
coffee roasting masters, who
buy exclusively under fair conditions
from trusted coffee farmers,
also offer a sustainable
enjoyment experience. From
aluminium-free coffee packaging
to biodegradable Coffee-
To-Go cups - everything at SA-
MYJU is made from harmless
materials.
„SAMYJU‘s concept fits perfectly
into the food court at
Photo: HGEsch
KII. In terms of catering, we
have placed great emphasis
on a good mix of nationwide
system providers and regional
concepts,“ explains Rudi Purps,
Managing Director of the CEN-
TRUM Group.
„We want to offer customers
as broad a culinary spectrum as
possible here. This includes not
only classic restaurant operations
or selected fast-food offerings,
but also unusual concepts
that you don‘t find everywhere.“
Deutsche EuroShop:
Length of the lockdown
had a strong
impact on earnings
Following the publication of its
half-year results, shopping centre
investor Deutsche EuroShop
also issued a statement on the
business impact of the Corona
pandemic. „In Germany, some of
the shop closures lasted until the
beginning of June. Since then,
customer frequencies have risen
again significantly. At the end of
July, they were around 77% of
the pre-Corona level,“ explains
Wilhelm Wellner, Spokesman of
the Executive Board. „Centres
and shops were and are not Corona
hotspots. We assume that the
shops will remain open even in
the event of a possible renewed
deterioration of the pandemic
situation and are doing our part -
not only with comprehensive hygiene
concepts and test centres,
but also with vaccination offers
in our shopping centres.“ As customer
footfall has improved, so
have tenant sales. In June 2021,
they averaged 85% of the precrisis
level. The operational key
figures thus show a clearly positive
trend, although - as after the
first lockdown in 2020 and now
so shortly after the full shop openings
- they still have significant
catch-up potential in some cases.
Shoe trade on the upswing again
Restart after serious sales losses
After hard times, the shoe industry
is currently experiencing
a comeback. The Federal
Association of German Shoe
Retailers (BDSE) is cautiously
optimistic.
The stationary shoe retail trade
is one of the biggest Corona
losers. According to the Federal
Statistical Office, shoe shops
already had to cope with sales
losses of around 21 percent last
year. According to BDSE calculations,
the specialist shops thus
lost a sales volume of 1.7 billion
euros last year and fell from
eight billion euros in annual sales
in 2019 to 6.3 billion euros
at the end of 2020 - in each case
at end consumer prices.
In the current year, too, shoe
stores suffered massively from
the pandemic and the state-imposed
shop closures. Up to
and including May, they had
The shoe retail sector is pleased about rising sales.
to remain closed or could only
sell under more difficult conditions
such as Click&Meet or
Click&Collect. It seemed like a
liberating blow when the Corona
measures were relaxed and
from June onwards shoe shops
in Germany were allowed to
open again largely as normal.
The pent-up demand among
customers was great, so that in
June a double-digit increase in
sales was achieved, which gave
the shoe trade the relief it had
hoped for - especially with regard
to liquidity and the level of
stocks.
However, pre-crisis sales are
still a long way from being
reached again. Customer frequencies
also still leave much
to be desired, especially in the
shopping streets of the large
metropolises and in the shopping
centres. Especially in the
big cities, there is still a lack of
international tourists and trade
fair visitors.
FCR Immobilien
increases operating
result enormously in
the first half of 2021
FCR Immobilien AG has achieved
a significant increase in the
first half of the year according
to IFRS figures. The operating
result, funds from operations
(FFO), rose by 67% to 3.7 million
euros, compared to 2.2 million
euros in the same period of
the previous year. Earnings before
taxes, EBT, improved by 53
% to 6.7 million euros, after 4.4
million in the first half of 2020.
The increase in results reflects
the very pleasing development
of the property portfolio. For
example, active asset management
further increased the occupancy
rate to 91.6 %, up from
90.3 % at the end of 2020. The
weighted remaining term of the
rental contracts, WAULT, increased
to 5.3 years after 5.1 years at
the end of 2020. With these figures,
FCR has laid an excellent
foundation for further business
development.

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Page 11 T O M
NEWS August 2021
FLAIR Fürth reaches 100
per cent occupancy rate
Shortly before opening, expert is the latest addition
Five weeks before the opening
of FLAIR Fürth, P&P provides
the next bang for the buck.
The well-known electronics
specialist expert Deutschland,
which is represented in more
than 400 locations, will present
itself in the FLAIR with
an innovative shop design.
Another leasing success:
HGHI was able to gain no less
than three new tenants for its
large-scale project Gorkistraße
/ Tegel Quartier in Berlin
in recent weeks.
FLAIR Fürth opens its doors in September. Photo: Mick Neuner
„With this renowned tenant, we
have succeeded in sustainably
implementing an extremely important
crowd puller and strong
frequency generator in the heart
of the city - this was our last big
piece of the puzzle,“ says Alexander
Elle, Senior Leasing Manager
at P&P.
„We also have the pleasure of
announcing a number of other
strong brands,“ says Elle. For
example, Wajos is opening its
first store in all of Bavaria with
its vinegars, oils and pastes.
Nanu-Nana is also represented
in FLAIR, as is the Munich
children‘s fashion label Nyani,
which will open its third concept
shop in Germany. In addition,
Stoked will present its own
store with a new type of fun and
trend sports concept where you
can create individual skadeboards.
„With this, we have achieved
the sensational result with
a 100 per cent occupancy rate,“
says Elle. The consistent implementation
of the pilot project by
P&P heralds a new generation
of shopping centres as „urban
entertainment centres“. In addition
to the excellent tenant mix,
FLAIR offers numerous innovative
attractions, for example
a free fitness trail, a large children‘s
world including a 540
slide, several interactive LED
floors, an XXL aquarium, game
tables for young and old, integrated
art, a high-quality home
office area and, with HOLO-
GATE-World, Germany‘s most
modern adventure world. This
sets completely new standards
in this asset class.
HGHI finds more tenants
for Berlin pedestrian zone
Gorkistraße / Tegel Quartier project with plenty of retail space
Retailers waste
potential in dealing
with address data
The majority (26 percent) of retailers
and logistics companies
do not have an overview of the
amount of postal addresses in
the company. Only about one
in four respondents in a recent
survey by Uniserv and Appinio
rate the quality of address data
as high; across all sectors, the figure
is 34 percent of all respondents.
The handling of address
data and the corresponding
tools and services leaves much
to be desired, especially in the
retail and logistics sectors. For
50 percent of the respondents in
this sector, correct address data
is most important for the delivery
of goods, and 47 percent see
the most important purpose in
invoicing.
Nuremberg: P&P
Group acquires large
site for neighbourhood
development
The P&P Group has acquired an
84,000 sqm site in a very good
location in the metropolitan region
of Nuremberg and is successfully
continuing its expansion
course. In the past, the entire
site was used by the Metz company
and thus also enjoys a special
historical significance in the
metropolitan region. Today, the
space is used by various tenants
as office and storage space. The
purchase price is in the mid twodigit
million range. The total
lettable area is currently approx.
39,600 sqm, of which approx.
60% is currently let. The future
use of the existing space has not
yet been determined.
Schwarz Group
wants to reinvent the
discount principle
The travel agency Wörlitz Tourist,
the bubble tea shop BoBoQ
with a rental area of 42 square
metres and the bakery Feihl
with 55 square metres are moving
in on a total of around 200
square metres. The opening of
the three shops located on the
ground floor is planned for autumn.
The Gorkistraße / Tegel Quartier
pedestrian zone construction
project, which is unique in
Germany, represents the extensive
modernisation and expansion
of the entire 250-metre-long
HGHI‘s Gorkistraße / Tegel Quartier project is making good progress.
Visualisation: HGHI
Gorkistraße pedestrian zone,
including the former Tegel-
Center shopping centre, the former
Hertie department stores‘
and the traditional Tegel market
hall. The revitalisation of the
Gorkistraße pedestrian zone is
one of HGHI‘s largest projects
and consists of a total of four
extensive construction phases.
On a total of about 90,000
square metres of gross floor
space, about 36,000 square metres
of retail space and about
28,000 square metres of office
space are being created.
The Schwarz Group is undergoing
one of the biggest upheavals
in its more than 90-year history.
Gerd Chrzanowski, who has
been at the helm of the group for
only a short time, wants to develop
new business models beyond
the classic discount trade under
the Lidl and Kaufland brands.
In the medium term, growth
opportunities in the domestic
market are limited due to strong
competition from supermarket
chains such as Edeka and Rewe.
Digitalisation and more sustainability
are the group‘s answer
to this challenge.

Page 13 T O M
GUEST CONTRIBUTION August 2021
Refurbishment of department
stores leads out of the crisis
Peter Starke of Aengevelt Berlin: new value creation potential through upcycling
Peter Starke, member of the
Aengevelt management team
and Berlin branch manager,
reflected on the topic „Refurbishment
- turning old into
new“.
According to Starke, the Corona
pandemic has triggered
a great momentum of change
for the real estate industry.
Stationary retail and thus also
department stores are significantly
affected by this.
Pandemic pushes
this development
They have been losing more
and more customers to online
retail for some time, and the
pandemic has accelerated this
development. „In Berlin, with
its 65 department stores and
shopping malls, this development
is particularly striking:
customer frequency is declining,
profitability is no longer
given, the concept is simply no
longer up to date.
Potential to solve 2
problems in one
A sensible approach to a solution
is refurbishment, a kind
of upcycling for buildings.
In the true sense of the word,
this means renovation. As far
as department stores are concerned,
the trend in Berlin is
partly going beyond this and
towards partial or complete
conversion. Since there is also
a shortage of residential and
office space in Berlin, there
is potential here to solve two
problems at once,“ says Starke.
Example Forum
Steglitz
One example is the recently
completed Forum Steglitz on
Schloßstraße. First opened in
1970, it was one of the first
department stores in Germany
with a shop-in-shop system.
Secondly, the upper floors
were converted into office
space, as the customer frequency
decreases the further
the distances become. This
development is by no means
an isolated case. This year
also saw the completion of the
„Up!“ in Friedrichshain - the
former Centrum, formerly Galeria
Kaufhof. There, with the
exception of the ground floor,
the entire property was res-
Peter Starke, member of the Aengevelt management team and Berlin branch manager.
Photo: Aengevelt
tructured into office space and
T O M
is now the new headquarters of
a large online retailer.
The renovation, which cost
tens of millions of euros, already
began in February 2019.
Three major deficits had to be
remedied: Firstly, the interior
areas had to be fundamentally
redesigned to increase the quality
of stay and the tenant mix
had to be restructured in line
with the times.
Converted into
office space
Versatile
possibilities
„The possibilities of a refurbishment
are many and varied,
as can currently be seen in the
conversion of Kalle Neukölln
in Karl-Marx-Strasse. Not
only the department stores‘
level but also the associated
elevated garage are being recoded.
In addition to 26,000
square metres of office space,
retail space, a roof garden and
a food market are being created,“
describes the Aengevelt
specialist. „For the real estate
industry, these developments
create new potential for value
creation, and market players
who keep an eye on the trend
can gain a competitive edge.“
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:
monthly
Circulation: approx. 5000 copies
sent by e-mail
Editorial team: Susanne Müller,
Thorsten Müller
Responsible in terms of press
law: Thorsten Müller
Layout: K4-PR, Essen

Page 13 T O M
CITY AND RETAIL August 2021
ALDI SÜD bundles
expertise for city centres
Simplifying cooperation with German municipalities and investors
ALDI SÜD is pooling its real
estate expertise and simplifying
its cooperation with cities,
municipalities and investors
in order to strengthen and revitalise
city centres even better
with customised real estate
concepts.
ALDI SÜD is responding to
changing conditions in the real
estate market by realigning its
shop development. Cities and
municipalities want to use land
in a resource-conserving way
and create new living space
wherever possible. They are
also faced with the challenge of
strengthening their city centres,
which are coming under increasing
pressure from competing
online retail and Corona-related
restrictions.
Enhancing
quality of life
Against this backdrop, food-anchored
properties in integrated
locations are becoming much
more attractive. ALDI SÜD
picks up on these developments
and demands - and combines
them with its own. „We believe
in the city centre,“ says Jan
Riemann.
As Director Property Cooperation,
he is the central contact for
supra-regional cooperation in
the real estate sector. „We want
to revitalise and develop the city
centre to be even closer to our
customers.
Facilitating
the approach
Short distances make shopping
easy and reduce traffic congestion
in cities.“ The design possibilities
are many. „Whether
flats above branches, new office
space or diverse retail locations
- we offer ideas and tailor-made
utilisation concepts that benefit
our partners as much as the infrastructure
and the quality of
life on site,“ says Riemann.
ALDI SÜD is responding to developments in city centres with new ideas.
ALDI SÜD is looking for additional
partners for its city expansion.
In order to simplify the
acquisition and cooperation, the
discounter has created a central
contact point for cooperations
in the entire distribution area.
It facilitates the development
of new partnerships as well as
the maintenance and support
of existing ones - for example,
cooperation with drugstores,
department stores or other companies.
On the other hand, the
discounter is stepping up its regional
commitment and opening
its own project development offices
for Cologne, Frankfurt am
Main and Offenbach as well as
for Stuttgart and Munich.
Real estate teams
in action
The local offices specialise in
the development of mixed-use
properties in the respective metropolises.
„Planning a location
with gastronomy, retail and a
day care centre on the roof in
the middle of the city is significantly
more complex than building
a stand-alone branch in the
countryside,“ says Riemann.
First point
of contact
„That‘s why we bundle our expertise.“
In addition, the local
offices are the direct contact on
site and as such are responsible
for the respective metropolitan
region. Riemann: „We are
advisors and idea developers.
Together with our partners, we
want to develop properties that
meet urban development requirements
and create added value
for all users. Whether as investor,
owner, tenant or landlord -
that is not decisive. What counts
Photo: ALDI SÜD
for us is the long-term perspective,
and for that the focus is on
flexible development with the
right mix of users.“
The opening of the Local Offices
is part of a realignment of ALDI
SÜD‘s shop development. By
bundling tasks and specialising
in local or urban construction
projects, the discounter is increasing
its efficiency and performance
in this area. ALDI
SÜD is also strengthening central
areas of responsibility such
as marketing, project management
of large real estate projects
or support for supra-regional
cooperations. „We are investing
in cooperation with cities and
municipalities, investors, project
developers, asset managers,
brokers and architects,“ says
Riemann. „We want to be the
first point of contact for them
when it comes to realising foodanchored
properties.“

Page 13 T O M
GUEST CONTRIBUTION August 2021
With the digital twin to a
successful shopping destination
Guest article for TOM by York-Friedrich Stahlknecht and Kay Promehl (Drees & Sommer)
The shopping centre of tomorrow
is transforming itself into
a shopping resort in which all
the needs of its users can be
combined: high-quality retail
space, a day care centre, cafés,
restaurants, fun and entertainment
should be housed in
one shopping destination wherever
possible. But with the
increasing demands of their
users and their growing size,
shopping centres are becoming
more and more complex
in their planning.
And it‘s not just about lining
up spaces, but also about how
sustainable the resulting complex
should be. In addition, the
associated infrastructures play
an important and costly role.
Planning mistakes are fatal and
difficult to correct. The Building
Information Modelling method,
or BIM for short, provides a remedy.
Maximum transparency
for success
Alexanderplatz D3 project development, competition winner Sauerbruch Hutton
First plan carefully and then
build - that, in a nutshell, is the
principle of Building Information
Modelling. The method is
about networked cooperation
that makes it possible to first
model the shopping centre virtually
and then build it in reality.
The virtual model is a three-dimensional,
digital twin of the
later shopping centre in coordinated
detail. For example,
the planners not only describe a
door in the model, but also define
the exact dimensions, costs
and service life of the material
or its sound permeability. Ideally,
BIM encompasses the entire
life cycle of a shopping centre
- from planning to construction,
operation and facility management
to deconstruction. This is
an enormous relief for all retailers
in the planning process, because
when used correctly, the
methodology reduces schedule,
cost and quality risks. In addition,
the planning can be checked
for consistency more quickly
and efficiently in the model and
planning errors can thus be uncovered
at an early stage before
they occur.
A resource-saving
building is in demand
Many shopping centres in Germany
are getting on in years and
are being extensively modernised.
They are to be transformed
into shopping and entertainment
districts in order to meet customer
demands again. And here,
too, BIM plays a decisive role.
Because it not only guarantees
maximum planning reliability.
With BIM, builders simultaneously
create the prerequisite
for more sustainability: information
on the building materials
used and their chemical
composition can be stored in the
building model. CO 2 footprint,
health, flexibility, recyclability
and separability can thus be stored
in a BIM database.A traffic
light system helps to quickly
identify optimisation potential.
In addition, simulations, for
example on energy efficiency,
can be created from the model
data. This makes it transparent
for all parties involved which
elements should be optimised
in order to achieve a sustainable
and resource-saving shopping
centre.
Laser scanning can also be used
to create a digital twin, a BIM
model of the existing building,
so to speak, for existing shopping
centres in order to carry out
deconstruction or upgrading.
The digital twin already thinks
along with the replanning and
points out possible errors so that
they do not arise on the construction
site in the first place. In
addition, the method is used to
accompany the shopping destination
throughout its entire life
cycle and ensures that all relevant
data is available to facility
management during building
operation.
Alexanderplatz Berlin: Sustainability
begins with the design
In Berlin, an approximately 130
m high hybrid high-rise with a
base building is currently under
construction, which was planned
using the BIM method described
above. The high-rise tower
offers space for retail space,
work, living, gastronomy, a kindergarten
and a club floor with
a roof terrace - exactly what its
future users want today. The
LEED Gold and Wired Score
Platinum certifications confirm
the building‘s sustainable aspirations,
and it is also the first
high-rise building in Berlin to
use geothermal energy. The project
is scheduled for completion
in 2025.