ARCADIA brokers Rathaus-Galerie shopping centre in Dormagen to the ILG Group
The Leipzig ARCADIA Investment Group was commissioned by the EKZ Dormagen GmbH to broker the larger section of the Rathaus-Galerie at 41 Markstraße in Dormagen. This shopping centre, which opened in 1995, has successfully been brokered to the public special fund AIF „ILG Einkaufen Deutschland I”of the ILG Group in Munich. This very centrally located property constitutes two main sections. The acquired section has a rental space of 11,150 m².
The shopping centre is situated on a 7,868 square meter piece of land and has a rental space of more than 22,200 square meters. Of this space, almost 9,500 square meters is utilized by 40 shops as rental space for the retail trade. In addition there is more than 1,500 square meters of residential space (17 residential units) as well as an underground car park with more than 11,000 square meters consisting of 400 parking spaces. The underground car park is operated by the OPG Center-Parking GmbH from Osnabrück, which was recently brokered by ARCADIA.
In 2014/2015 the shopping centre was extensively refurbished. The new owner of the Rathaus-Galerie is a Dutch family concern. The purchase price was tacitly agreed upon. ILG will also be managing the shopping centre. As part of this, the letting aspect should be optimized and different measures implemented towards making the centre more attractive for visitors.
The Rathaus-Galerie is situated in the best inner-city location in Dormagen, directly adjacent to the pedestrian zone and the city’s main shopping street. Many well-known retails such as C&A, H&M, Kult, Tchibo, E-Plus or McDonalds are located in the mall on the ground floor. In addition a 1,750 square meter retail space was recently rented to Aldi. These strategic alignments enable further adjustments to be made to the rental structure in other areas of the shopping centre. The new owner is dedicated to this new development priority and will accordingly finalize more processes to optimise the centre.
“It is not an exaggeration”, explained Alexander Folz, Managing Director of the ARCADIA Investment Group, “for the Rathaus-Galerie to be valued as the pivotal point of the retail trade in Dormagen”. In light of the new modernisation the centre is able to put forward an attractive retail mix which guarantees economic success. It is therefore only logical that the centre was acquired by an institutional investor with long-term yield objectives.
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