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News
TH Real Estate acquires largest Muji Store in Europe | News
We have secured the Japanese brand Muji, at their Kamppi Shopping Centre in Helsinki, Finland.
The opening of Muji at the centre will be the first flagship store in Finland and represents the largest Muji store in Europe. The store is scheduled to open in Q4 2019. Muji currently has more than 40 stores across Europe.
Kamppi Shopping Centre totals 36, 600 sq m (393,959 sq ft) of retail and leisure space and includes prime International and Nordic retail brands such as Hilfiger, Levi’s, Calvin Klein, Mango, Stadium and Clas Ohlson, as well as several upmarket independent restaurants and bars. Kamppi is one of the most popular shopping centres in the Nordics, with c.33 million visitors in 2018.
Katja Holmström comments: "We are pleased to welcome Muji as a key tenant at Kamppi Shopping Centre. We trust that Muji’s flagship store will add to Kamppi’s well diversified tenant mix and support us to further develop the shopping centre, keeping it the preferred shopping destination in the Helsinki Metropolitan area. The Muji pop-up store, which is currently open, has been a great success so far and it gives us something extra for the Christmas sales."
The European Cities platform acquired a 50% stake in Kamppi Shopping Centre in February 2017, creating a 50:50 joint venture with Allianz. The mandate targets income-producing properties in 'future-proof' cities across Europe. There are currently 11 properties in the portfolio, including three retail assets, Enox Retail Park, Meraville Retail Park and Xanadú Shopping Centre, located in Paris, Milan and Madrid respectively.
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Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.
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