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TH Real Estate modernises Gropius Passagen, Berlin
We have completed the final renovation phase of Gropius Passagen in Berlin, following a c.€125 million modernisation, together with Unibail-Rodamco-Westfield.
With a new logo and by aligning with the latest fashion and lifestyle brands, the modernisation of Gropius Passagen positions the centre as more than just a local supplier. Originally opened in 1969, Gropius Passagen is located in Berlin-Neukölln, and covers a floor area of 93,500 sq m (c.1 million sq ft), with 2,000 parking spaces and excellent transport links.
With an attractive mix of national and international brands, as well as new creative food concepts, Gropius Passagen has positioned itself as an urban meeting place in southern Berlin. The centre is home to around 150 shops and 10 million visitors per year, making it one of the biggest in Germany.
A key feature of the refurbishment includes the newly-designed atrium, and a mix of local, national and international food concepts in the modernised food plaza/area on the first floor. Anchor tenants include Peek & Cloppenburg, Media Markt, C&A, H&M, Aldi, Kaufland and Müller drug store. Karstadt, one of the most modern concept stores in Germany, also joined the centre in October 2018.
Stephan Austrup comments: "With this comprehensive modernisation, we have laid the groundwork for Gropius Passagen to have a successful future, taking into account the changing demands of our customers and tenants. The repositioning is also reflected in the gradually-refined tenant mix. In H2 2019, the centre will welcome Decathlon and UCI cinema as new tenants."
Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.
Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services.