TOM 02 2025

T
TOPS
M
OF THE MONTH
TOMO
RETAIL REAL ESTATE
TOPS
OF THE
MONTH
Essential News About The Players In In
The Retail Real Property Estate Market In in Germany
THE HOTTEST DEALS +++
INTERVIEWS +++ STATEMENTS
+++ PARTICULARS +++
ANALYSES +++ PROJECTS
presented by HI-HEUTE.DE
February 2025
AI is the most important future trend in retail. Symbolpicture: Pixabay / Gerd Altmann
AI is the most important future trend in retail
EHI Retail Institute Cologne has sounded out the top topics
Artificial intelligence is the
top trend in retail, the IT managers
of the companies surveyed
agree. Also in vogue are
seamless checkout technologies,
such as self-checkout and
Scan & Go, which are designed
to make the checkout process
faster, easier and more
convenient for customers.
“Process automation is at the top
of the agenda for many CIOs.
AI-based applications play a
crucial role here,” explains Ulrich
Spaan, member of the EHI
management board and technology
expert, the results of the
current EHI study ‘Technology
Trends in Retail 2025’, which
was presented at the EuroCIS in
Düsseldorf.
On average, the IT budget currently
amounts to 1.98 percent
of net sales. 69 percent of respondents
expect IT budgets to
continue to grow in the coming
years. 100 percent of respondents
rate AI as the most important
future trend. Two years
ago, it was still 52 percent. This
development reflects the rapid
entry of generative AI into
companies, which has led to a
significant change in awareness
among those in charge.
Planned projects:
ERP, cloud, and more
Even companies that have otherwise
been reluctant to embrace
hyped topics now recognize the
strategic relevance of AI. The
top five technological developments
for the next three years
continue to include seamless
checkout (40 percent), customer
centricity (30 percent), process
digitization (28 percent), and
connected retail (27 percent).
As in previous years, the projects
planned for the coming
years will focus on basic topics
such as ERP (52 percent), infrastructure/cloud
(42 percent)
and supply chain management
(33 percent). These projects
aim to establish a powerful and
modern system landscape that
serves, among other things, as a
basis for the use of new AI-based
applications. This will enable
retail companies to create
the flexibility needed to respond
to technological innovations
with agility and use them effectively.
When asked about their
top planned projects, a quarter
of IT professionals mention the
integration of AI applications.
In most cases, these are projects
that aim to anchor generative AI
in the company organization.
Rise in cybercrime
89 percent see an increase in cyberattacks.
The attacks are becoming
more sophisticated both
quantitatively and qualitatively,
which is also due to the fact that
attackers are increasingly using
AI. The attention of employees
plays a crucial role. The speed
with which attacks are carried
out is also seen as challenging
by 43 percent because it requires
faster identification of the
attack and a faster response.
Almost all (91 percent) consider
awareness-raising among staff
to be one of the most important
preventive measures against
cybercrime. 82 percent rely
on emergency plans and three
quarters on pentests.

Page 2 T O M
ANALYSES
February 2025
Experts expect strong growth in European e-commerce. Symbolpicture: Depositphotos / Y-Boychenko
Significant growth predicted for e-commerce
Current study expects 50 percent increase in Germany
The European e-commerce
market will see significant
growth in the coming years.
According to a recent forecast
by the research and consulting
firm Forrester, online retail
sales in Europe are expected
to exceed 565 billion euros by
2029. In Germany, an increase
of 50 percent is expected,
with sales likely to rise from
97 billion euros in 2024 to 146
billion euros.
These findings come from Forrester‘s
latest report, “Europe-5
Online Retail Forecast, 2024 to
2029,” which provides a comprehensive
five-year forecast
for retail and online retail in
the five major European economies:
Germany, France, the
United Kingdom, Italy, and
Spain. According to the report,
total retail sales in Germany are
expected to increase at a compound
annual growth rate of 2.9
percent to 693 billion euros by
2029. The share of online retail
in total retail sales in the five
countries mentioned is expected
to grow to almost 21 percent
by 2029, up from 16 percent in
2024. Online penetration of the
retail sector is also expected to
develop accordingly during this
period, making Germany one
of the “most digitally advanced
markets in Europe,” according
to Forrester.
Fashion industry
recovering
Forrester cites a stronger economy,
the increasing use of
omnichannel strategies, improved
price transparency and
the expansion of cross-border
marketplaces as key factors driving
this growth. A recovery in
sales is expected particularly in
non-essential retail as inflation
falls and economic conditions
improve. Categories such as fashion
and consumer electronics
are likely to benefit from this
and see renewed online growth
as price-conscious consumers
regain purchasing power. Forrester
also expects that in the
current year, two-thirds of online
growth in Germany will be
driven by higher spending per
consumer, while one-third will
come from new online buyers.
Germany in the
lead
„The retail industry in Germany
is expected to grow significantly
and reach a sales volume of 693
billion euros by 2029, compared
to 600 billion euros in 2024,”
explains Jitender Miglani, principal
forecasting analyst at Forrester.
This growth will be supported
by improved economic
conditions, rising real disposable
incomes, and advanced retail
strategies that blend online
and offline experiences. “Germany
stands out as one of the
largest online retail markets in
Europe, with online sales forecast
to grow from €97 billion in
2024 to €146 billion by 2029.
E-commerce innovations, such
as marketplace expansions and
personalized shopping experiences,
are driving this development
and securing Germany a
leading position in European
retail,” Miglani continued.
Although Germany has the highest
retail sales among the five
largest European countries, the
growth of online retailing is slowing
the growth of brick-andmortar
retailing significantly.
Invest in digital
platforms
Miglani therefore advises retailers
to invest more in digital
platforms to expand their omnichannel
strategies and meet the
increasing online demand. “The
growth of e-commerce is fundamentally
changing the retail
landscape and offering companies
the opportunity to expand
their customer base by creating
more convenience and personalized
shopping experiences. The
right customer strategy, both online
and offline, will determine
market dominance in the next
decade,” the analyst concludes.

Page 3 T O M
TOP STATEMENT OF THE MONTH February 2025
TOP STATEMENT
February
„If we combine living, office,
retail and gastronomy, traditional
department stores
can become new centers for
shopping and social encounters“
Iris Schöberl, President of the German
Property Federation (ZIA) in the HI
HEUTE business directory „Trendsetter
Multi-Use – Vielfalt für die Fläche”

Page 5 T O M
GUEST CONTRIBUTION February 2025
Resilient asset class: retail parks offer good
opportunities in a dynamic market environment
Guest article by Rüdiger Schwarz (PGIM Real Estate)
Retail parks with a strong
food anchor currently offer an
exciting investment environment,
particularly for investors
with a focus on stability.
This real estate class is characterized
by secure and continuous
income streams, which
are supported by established
tenants such as supermarkets,
discounters and drugstores.
The current market situation
– with relatively little buyer
competition and valuations
having bottomed out – creates
particularly attractive entry
opportunities with yields that,
depending on the location and
property quality, are noticeably
higher than the financing
costs. Food retail (LEH) anchored
properties are less of
a growth sector and more of a
cash-flow-oriented asset class.
The defensive nature of these
investments makes them attractive
even in economically
uncertain times and is therefore
particularly interesting in the
early phase of an investment
cycle – which is where we currently
find ourselves. It is therefore
expected that investor
demand in this asset class will
increase due to the strong market
fundamentals and the security
of cash flows. Specifically for
our strategies, such properties
are an excellent addition because
they generate an above-average
contribution to the distribution
yield.
Geographic and sectoral
preferences
We see the most potential in
economically strong regions of
Germany with high demand and
stable demographic conditions.
Looking at the map, one could
almost speak of a “high-purchasing
power banana” stretching
from North Rhine-Westphalia
through Hesse and Baden-Württemberg
to Bavaria.
In the retail parks themselves,
particular attention is paid to a
balanced mix of types of use.
We consider a share of at least
70% from the food retailing and
FMCG (fast-moving consumer
goods) sectors to be attractive.
Rüdiger Schwarz, Head of Asset Management for Germany, Austria and the Netherlands at PGIM
Food retailers are considered
to be reliable tenants as a strategic
anchor due to their high
creditworthiness and stability.
They are complemented by
drugstores, fashion stores and
smaller non-food retailers. This
mix is particularly advantageous
in the long term for both
operators and investors, as it
enables stable sales. Retailers
are usually very loyal to their
established locations, not least
in view of possible expansion
by competitors. This creates the
basis for long-term leases and
offers the opportunity to stabilize
the investment. In addition,
municipalities have been much
more restrictive in granting new
building rights for the establishment
of food retail outlets in recent
years.
The attractiveness of a strong
food retail anchor is based,
among other things, on the fact
that food retailing has so far remained
a secure pillar for retail
parks despite the e-commerce
boom. The online share in this
segment is still extremely low
in Germany at around 2.5%.
Consumers continue to prefer
brick-and-mortar retail, especially
when it comes to fresh products
such as fruit, vegetables or
meat.
ESG and
modernization
projects as growth
drivers
There is potential for value appreciation
in the area of ESG,
among others. Modernization
projects not only improve the
properties‘ energy efficiency,
but also make them more attractive
to tenants and investors.
Measures such as the integration
of modern energy systems, sustainable
construction methods
and efficient floor plans can be
implemented in collaboration.
This benefits both sides: tenants
receive modernized and energyefficient
space, while landlords
in return for their investment
receive longer leases and more
stable income.
Photo: PGIM
In 2025, we plan to continue to
expand our investments in retail
parks opportunistically. After
acquiring a portfolio of four
properties in Bavaria last year,
an investment target of €100
million or more is conceivable
this year. These funds will be
invested in properties that have
already been stabilized or offer
clearly defined development
potential. Particular priority will
be given to properties that promise
stable long-term returns.
Conclusion
In a volatile real estate market,
retail parks offer a comparatively
low-risk and profitable
investment opportunity. The
combination of geographic diversification,
an ESG focus and
modernization makes this real
estate class particularly interesting.
With a clear view of longterm
stability and a flexible investment
strategy, investors are
well positioned to take advantage
of the opportunities offered
by the market cycle.

URBAN CREATORS.
Architecture | Development & Project Management
European Council of Shopping Places (ECSP) Awards: Commendation for Best Renovation/Expansion for centres between 15.000 – 45.000 sqm

Page 7 T O M
GUEST CONTRIBUTION February 2025
AI and its use in brick-and-mortar retail
Guest article by Frank Rehme, Managing Director of the Mittelstand-Digital Retail Center
Artificial intelligence has long
since arrived in retail – not
only online, but also offline.
To remain competitive in the
future, retailers should rely
on these smart helpers. But
which technologies have already
found their way into
stores today and where is it
worth taking a look into the
future?
The possible applications of AI
are many and varied – from personalized
product recommendations
in online shops, chatbots,
prediction models and supply
chain optimization to the adaptation
of marketing messages
based on the behavior and preferences
of customers, almost
every area of retail is affected.
Currently, however, small and
medium-sized retailers often
still see artificial intelligence as
a “playground” for trying things
out. In general, retailers‘ questions
tend to revolve around more
fundamental issues such as “Is
AI for me?”, “Where can I use
AI at all?” and “Is there a suitable
AI solution for me?”
AI technologies are currently
being used more and more in the
back-store area in retail. However,
customers are already noticing
changes as a result of some
developments in the front store.
Are long checkout lines becoming
a thing of the past? If you
take a look at the supermarket
chain Rewe, you might come
to this conclusion. Compared to
the US, cashier-less supermarkets
are not yet very common
in this country, but REWE has
opened several Pick&Go stores
in Germany. These stores enable
customers to do their shopping
with the help of a dedicated app
and then leave the store without
having to scan their items. Cameras
and weighing cells on the
shelves register all the products
in the shopping cart, and payment
is made using the payment
method stored in the associated
app.
In addition to these “smart
stores”, there are other store
formats that offer 24/7 shopping
completely without staff, as demonstrated
by the grocery store
Tegut with “teo” and now also
used by other providers, particularly
in rural areas. While
the “walk-in” stores work with
self-scanning or pick & go, customers
order their goods from
Frank Rehme
“automated boxes” via a terminal
or app. Robot-based technologies
then make them available
in a delivery compartment. Typically,
this is a reduced range.
Less innovative, but all the more
widespread, are self-checkout
counters where customers scan
their goods themselves and
pay at the checkout machine.
Computer vision solutions, i.e.
“machine vision”, simplify and
accelerate the checkout and
payment process, as the software
recognizes the products
in seconds based on their shape
and color. Large purchases are
problematic here, as products
usually cannot be stacked. Related
concepts, such as RFID recognition,
which is used by Decathlon,
among others, do not
have this problem: the special
labels automatically recognize
goods in the customer‘s shopping
basket instead of scanning
them individually.
But it is not only the payment
process that is changing as a
result of artificial intelligence:
with the help of AI, new access
to existing data such as sales
figures can be created. This
makes it much easier to extract
and analyze the knowledge gained
from this data in order to
derive appropriate conclusions.
The use of AI solutions can also
create more freedom by simplifying
routine tasks. This leaves
employees more time for the
customers themselves – potential
for improving the shopping
experience and thus retaining
customers in the long term.
We will see more of what is currently
already in use in the future:
the use of computer vision
solutions. In addition to machine
vision at self-checkouts,
the technology will continue to
establish itself as the basis for
digital twins and the associated
added value. Digital twins, i.e.
digital representations of physical
retail stores, represent the
business in as much detail as
possible. Which products are
on which shelf and in which
compartment, how often, how
big and how heavy are they? At
which positions are the shelves
themselves actually located?
By visually identifying out-ofstocks,
improved merchandise
planning is possible and shelf
gaps can be closed more quickly.
This also makes it possible
to optimize customer journeys.
The increased networking of
online and offline will also
enable customers to be offered
improved products and services:
computer vision is able to
capture demographic customer
structures that provide information
about which customers
shop more frequently in the
store and are interested in certain
products (e.g. by spending
more time in front of the relevant
shelf). These insights can
be used to display more targeted
ads on mobile devices – in
a privacy-compliant manner,
without directly identifying individuals.
In general, it can be
assumed that data will become
significantly more important in
the future and that questions regarding
data sovereignty, data
utilization, etc. will come into
focus.
Robotics is also on the rise: in
the future, service robots equipped
with laser scanners, 3D cameras
and sensors will ensure
that shelves are scanned and
automatically refilled.
And the metaverse? This development
currently seems far
removed from everyday retail.
Nevertheless, some brands in
the fashion, beauty and luxury
segments have been testing for
some time how they can use the
metaverse to create new customer
experiences, for example
through communities. However,
since the basic idea of a shared
“online world”, in which virtual
reality, augmented reality and
the real world merge, does not
yet exist, it is important to stay
tuned.
Artificial intelligence is not a
panacea, but a tool that, when
used correctly, can be extremely
helpful. However, there are
a number of prerequisites for
its correct use, such as the availability
of suitable data in the
right quality and quantity. The
approach “I need an AI system
because AI solves all problems”
will not lead to the desired result,
because a number of prerequisites
must be met. If this is
not (yet) the case, it is necessary
to check how they can be met
or which alternative approaches
could be promising. Regardless
of the specific solutions, when
using AI, there are also ethical
and (data protection) legal issues
that retailers have to deal
with.
German customers in particular
still have some reservations
about artificial intelligence –
especially when it comes to the
protection of their personal data.
But Germans are also considered
to be rather cautious when it
comes to technology. This also
applies to retailers themselves:
for them, becoming “AI-ready”
means knowing the opportunities
for their own business
and the challenges for which
AI could offer a potential solution.
Retailers should first ask
themselves what problems exist
in their company and how they
would like to solve or optimize
them. al benefit.

The art of
investing
Tailor-made investments in German supermarkets
As real estate experts, we invest in grocery stores
and retail parks throughout Germany.
The advantage?
Financially very strong tenants and crisis-proof basic
supply ensure sustainable attractive returns for
investors.
20 years of experience in food retail
Excellent network
Working in partnership
Big plans? So do we.
Talk to us:
Jörn Burghardt • Managing Director
Phone: +49 (69) 756694334 • E-mail: j.burghardt@g-pep.com
GPEP GmbH · Hamburger Allee 26-28 · 60486 Frankfurt/Main GERMANY • www.g-pep.com

Page 9 T O M
SHOPPING CENTER February 2025
CC Real sets new sustainability
standards with center in Split
First shopping center in Croatia to receive full compliance with EU taxonomy
With City Center one Split,
Austrian commercial real
estate investor and operator
CC Real is setting new standards
for sustainable shopping
centers in Europe. After
a successful renovation and
an investment of over 20 million
euros, the center is the
first property in Croatia to
fully meet the strict criteria
of the EU taxonomy. By fully
meeting the EU taxonomy requirements,
which establish
objective standards for environmentally
sustainable economic
activity, City Center
one Split makes an important
contribution to the environmental
goal of mitigating climate
change.
The entire process was successfully
managed by CC Real
Project Management GmbH‘s
internal experts, certified EU
taxonomy consultants and
DGNB auditors. This positions
the shopping center as a role
model for sustainable development
in the real estate industry.
In addition, the center has been
awarded the DGNB Gold Certificate
- one of the world‘s most
recognized standards for sustainable
construction and real estate
management.
CC Real successfully
invests in market
leadership in Croatia
This recognition places City
Center one Split in a valued
group of long-term economically
sustainable real estate in
Europe. „We are very proud
of these certificates. Economic
success and ecological responsibility
can go hand in hand.
Increased resilience to climate
risks, lower operating costs, increased
market value and greater
attractiveness for investors
and tenants are the competitive
advantages that we see this
giving us in the market,” says
Sven Vorih, Managing Partner
CC Real.
CC Real operates a total of four
shopping centers in Croatia,
making it one of the market leaders.
Since its opening in 2010,
After a comprehensive renovation, City Center one Split is the first property in Croatia to fully meet the
strict criteria of the EU taxonomy.
Photo: CC Real
City Center one Split has become
one of the leading shopping
and leisure destinations
for families in the Dalmatia region.
With a total area of 60,000
square meters and an attractive
mix of tenants, the center attracts
6.5 million visitors a year.
The anchor tenants include IN-
TERSPAR, Müller, H&M, Mango,
IKEA, C&A, McDonald‘s
and Cineplex. In the past year
and a half, more than 20 million
euros have been invested
while the center remained open
for business in order to create a
modern, functional, sustainable
and extremely attractive location
that meets the needs of all
visitors and offers added value
to the center‘s 200 tenants.
„With this project, we wanted to
strengthen the center‘s position
as a meeting place for the local
community by creating a place
for relaxation, socializing and
shopping – a place where the residents
of Split and the surrounding
area enjoy spending time.
The city is still the city – it has
only gotten better,” says Nikola
Lozina, Center Manager of CC
Real.
With its sustainable modernization,
City Center one Split has
placed a focus on environmentally
friendly and experienceoriented
shopping. The combination
of wood and metal has
created a modern design that
has been further enhanced with
a large green wall and almost
1,000 plants.
Energy-efficient LED lighting
and water-saving installations
contribute to the center‘s environmental
responsibility. The
modernization included 16,000
sqm of retail space, with new
shops complementing the range
of products on offer. More than
40 tenants have renewed their
shop concepts or relocated within
the center to further optimize
the shopping experience.
Particularly noteworthy is the
opening of the first Batak restaurant
in Split, a large and
popular restaurant chain in the
local market, which enriches
the center‘s gastronomic diversity.
In addition, 11,000 m² of
common areas have undergone
a comprehensive renovation. By
the end of the year, the shopping
center, which has been open for
almost 15 years, will introduce a
unique, specially designed segment
that combines a variety of
entertainment activities, social
gatherings and unforgettable
experiences, fully justifying the
slogan of the renovation phase:
“Same Place, New Memories”.
City Center one Split is setting
new standards for sustainable
and modern retail in Europe.

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Page 11 T O M
INTERVIEW February 2025
„Investing in sustainability
is investing in value stability”
Interview with Maria Hill (ECE, Hamburg)
Making large retail properties
such as shopping centers
“fit for the future” means not
only constantly optimizing the
tenant mix and further developing
the range of offers in a
location-specific manner, but
also successively making the
properties climate-neutral.
Only in this way can they contribute
to the European climate
targets and remain attractive
in the long term. This is a
challenge for owners, tenants
and operators alike. TOM editor-in-chief
Thorsten Müller
talked to Maria Hill, Director
Sustainability & Corporate
Communications at real estate
developer and shopping
center operator ECE, about
the benefits, requirements and
measures on the road to climate
neutrality.
TOM: Why should a shopping
center owner invest in
the sustainable conversion of
their property at all, instead
of continuing to reap the usual
returns?
Maria Hill: In a nutshell: to
secure this return in the long
term. The background to this is
that the legal requirements for
energy standards are becoming
increasingly stringent, even for
existing properties, and at the
same time, pressure from the
market is also continuously increasing.
The European Energy
Performance of Buildings Directive
(EPBD) and the national
Building Energy Act set the
framework and the targets. And
these requirements are ambitious
in terms of both time and
content. At the same time, the
new standards for monitoring
and reporting are ensuring ever
greater transparency, so the
energy standard of the property
is becoming visible. If owners
fail to act in this context, there
is a risk of a long-term loss in
value, up to and including the
scenario of a “stranded asset”.
Investments in sustainability
and climate neutrality are therefore
investments in the value
stability of the properties.
TOM: But shopping centers
are large, highly frequented
Maria Hill, Director Sustainability & Corporate Communications
at real estate developer and shopping center operator ECE
Photo: ECE
and highly complex properties.
How can it even be possible
to make them climate-neutral?
Maria Hill: We have already
shown that it is possible in a pilot
project. For this, we developed
an energy-efficient renovation
roadmap at ECE that uses a
comprehensive analysis to identify
a wide range of measures
for making a shopping center
climate-neutral and meeting regulatory
requirements. We call
this roadmap the “ECE map-
2zero”. Two things are crucial
here: Firstly, early action ensures
advantages, as it leads to financial
predictability and helps
to secure current attractive funding
opportunities. Secondly,
the necessary measures are put
in a sensible order so that they
can be implemented as efficiently
as possible while conserving
resources.
TOM: But it is not only the
owners who are being asked
to do more; the requirements
for sustainability are also increasing
in the context of collaboration
with tenants. What
measures are being taken and
what progress has been made
in this area?
Maria Hill: In order to achieve
our climate goals, we naturally
need the joint commitment of
all parties, including the commitment
and cooperation of our
tenants. We have already made
great strides in this regard in
recent years: for many years,
we have been implementing
extensive measures to reduce
CO2 emissions in the common
areas of the shopping centers
we operate, starting with the use
of green electricity and converting
to LED lighting, as well as
installing efficient air conditioning
and ventilation systems.
Together with our tenants, however,
we are going one step
further and have revised the
green lease agreements that we
have been voluntarily using since
2016 and made them an integral
part of the rental contracts.
In doing so, we are also extending
the sustainable standards
to the rented areas on a mandatory
basis. In the meantime,
around half of all current rental
contracts at ECE already have a
green lease.
TOM: What exactly do these
green lease agreements entail?
Maria Hill: In addition to the
OPS F THE ONTH
consistent use of LED lighting
and the exclusive use of green
electricity, the green lease agreement
also includes the disclosure
of tenant consumption
data so that the center‘s total
carbon footprint can be measured,
including the shop space
operated by tenants. This will
enable the company to develop
appropriate sustainability measures,
which in turn will contribute
to the long-term goal of
climate neutrality and thus to
the value stability and future
viability of the properties.
T
TOPS
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OF THE MONTH
TOM
TOPS
OF THE
RETAIL REAL ESTATE
Essential News About The Players In In
The Retail Real Property Estate Market In in Germany
IMPRINT
MONTH
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Mail: tom@hi-heute.de
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THE HOT
INTERVIE
+++ PART
ANALYSE
presente
March

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 13 T O M
GUEST CONTRIBUTION February 2025
„Don‘t just think in terms of urban planning, but
understand the city from a retail perspective!”
Interview with Dr. Christof Glatzel (Böning Glatzel Klug Real Estate GmbH)
When politics, administration
and the real estate industry
work together to develop a
credi-ble goal and an implementation
strategy, opportunities
can arise for a city.
With this in mind, Monheim
in the Rhineland commissioned
the working group of Boening
Glatzel Klug Real Estate
GmbH and Heine Architects
in 2019 to redesign the most
important inner-city properties.
In an interview with
TOM editor-in-chief Thorsten
Müller, Dr. Christopf Glatzel
talks about what has been
achieved so far and, of course,
how things will continue.
TOM: The revitalization of
Monheim‘s city center, in
which your company plays a
major role, has already made
significant progress, but is not
yet complete. What has happened
recently and what is
still to come?
Dr. Christof Glatzel: The first
two construction phases have
opened with all units rented –
now the third phase is to follow.
The city council will decide on
this in December of this year.
It in-volves four commercial
buildings opposite the bus station
with approx. 6,000 sqm of
retail space on the ground floor
and offices and apartments on
the upper floors. Completion is
planned for the end of 2027. 50
percent of the retail space has
already been allocated to consumer
electronics retail-er Expert
and Jysk. With this last building
block, the city center will be
complete.
TOM: Unlike almost every
other city in Germany, Monheim
has taken the initiative
itself by acquiring two innercity
shopping centers, rather
than placing its retail destiny
in the hands of outsiders. Does
that make Monheim‘s example
particularly worthy of
imitation?
Dr. Christof Glatzel: A lot of
things have to come together to
transform a city center the way
we are doing in Monheim. The
properties and buildings must
be available and the city must
Dr. Christof Glatzel
have the money to purchase the
buildings and properties. The
mayor and city council need
courage, unity and entrepreneurial
spirit. And last but not least,
the city must bring in professionals
for the imple-mentation
who not only think in terms of
urban planning, but also understand
the city from a com-mercial
perspective, because without
trade there can be no functioning
city center.
TOM: What should project
development look like today if
it is to be successful and profita-ble?
Dr. Christof Glatzel: A private
investor cannot implement an
urban redevelopment project
like the one in Monheim. The
city has to get involved, invest
properly and compensate for the
lack of prof-itability with urban
development subsidies.
TOM: Which multi-use combinations
would you personally
prefer?
Christof Glatzel: In the city
center, we need retail and gastronomy
on the ground floor,
because no other use attracts
people like retail. A few large-scale
concepts still make it
to the first floor today. Almost
nothing more is possible in retail
above that. That leaves residential,
offices, urban uses
and leisure facilities. So I have
a clear preference for inner-city
development: retail and gastronomy
on the ground floor. And
on the upper floors, a decision
must be made on a case-by-case
basis as to what is possible.
TOM: Project developers often
complain about the bureaucratic
madness. Do you
think it can be stopped at all
in this country?
Dr. Christof Glatzel: Hardly,
every law, new technical DIN
regulation, funding regulation
and even design statutes create
bureaucracy.
All well-intentioned “aids”,
climate protection or safety
measures, create a monster of
barely com-prehensible assumptions
and calculations. Take, for
example, the KfW funding with
EH 40 and life cycle analysis,
the so-called LCA certificate on
a QNG basis, DGNB or similar,
for individual con-struction in
city centers outside of the top 7
not affordable!
We doubt whether society, politics
and the world of experts
have the courage to make an inevitable
change.
TOM: In shopping centers,
attempts are being made – sometimes
desperately – to find
new ways to increase customer
frequency. The aim is to
achieve this through experience
and entertainment. Does it
really work?
Dr. Christof Glatzel: I‘m skeptical.
Ailing properties will not
be cured by experiences and
enter-tainment. It‘s always the
same: if retailers don‘t motivate
customers to visit the shopping
center or the city, experiences
and entertainment won‘t make
it happen.
TOM: What types of shops
and, on the other hand, what
types of leases (lease models)
are needed to make centers
attractive again?
Dr. Christof Glatzel: It‘s all
about the mix; without local
amenities, little is possible.
But it is at least as important that
we make it as easy as possible
for customers, and that includes
private transport, i.e. the car.
Boenig Glatzel Klug are “platform
builders”. We have to create
the optimal basis for retailers
to generate the highest possible
sales. That is the first thought,
and it guides us through the project.
TOM: What types of retail
real estate do you think have
the best chances for the future
– let‘s say for the next ten years?
Dr. Christof Glatzel: Many years
ago, I wrote off retail parks
on greenfield sites: no experience,
no welcome attitude,
interchangeable retailers; so
no chance against the internet.
Wrong. Parking spaces directly
in front of the store, free of charge
and easy to access, the recipe
still works.
I don‘t know what will work in
ten years‘ time. But I understand
what‘s going on now – and
I‘m sticking to that.

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Page 15 T O M
MAP OF THE MONTH February 2025
Single households, Germany 2024
Our Geomarketing Map of the Month for February shows
the regional distribution of single households in Germany
in 2024. According to the latest GfK Demographics,
single households are the most common household type
in Germany with a share of 41.2 percent, followed by multi-person
households without children (31.5 percent) and
multi-person households with children (27.4 percent). The
front-runner among single households is the urban district
of Regensburg with a share of 54.3 percent. The urban
districts of Passau (52.0 percent) and Bayreuth (50.9 percent)
follow in second and third place. Percentage-wise,
the fewest single households are found in the district of
Cloppenburg, where only 30.2 percent of all households
consist of just one person.