Galerie Troisdorf: MEC and Nuveen make retail location future-proof
The course has been set for the future of Galerie Troisdorf: MEC and Nuveen Real Estate have worked together to strategically develop the retail location and have now implemented a future-proof solution. The starting point was a change in the rental structure, which made a fundamental realignment necessary. An individually tailored concept has strengthened the gallery's position as a central attraction in Troisdorf in the Rhineland.
Following the withdrawal of individual tenants, MEC and Nuveen jointly examined all development options - from mixed-use scenarios with residential use to a targeted strengthening of the retail offering. For Galerie Troisdorf, the consistent focus on retail proved to be the right approach.
The long-term extension of the rental agreements with the established anchor tenants C&A and the retail company Müller provided two key impulses for the stabilization of the location. Both companies have made a conscious decision to remain at the location - a strong signal for the attractiveness and potential of Galerie Troisdorf.
At the same time, the tenant portfolio was further developed in a targeted manner: The young fashion chain NEW YORKER is returning to Troisdorf and will move into a newly designed space in the gallery. This will be supplemented by a modern fitness studio, which will bring additional footfall and open up new target groups. Further spaces are currently being let.
“After intensive examination of various development scenarios, the combination of retail and leisure proved to be the most economically viable solution for the location,” explains Carsten Grevel, Head of Retail Asset Management, Northern Europe at Nuveen Real Estate. “Together with MEC, we have developed a strategy that optimally combines both the potential of the property and the requirements of the market.”
“Our aim is not only to preserve retail locations, but to actively help shape them in terms of sustainable urban development,” says Matthias Essmann, Leasing Manager at MEC. “As an operational partner of asset management, we not only contribute market-oriented leasing concepts, but also view each location from a 360-degree perspective - always with the aim of embedding retail properties in their urban environment in a meaningful way and developing them further.”
The realignment of Galerie Troisdorf underlines the strategic aspirations of both companies: Retail properties are not developed schematically, but on the basis of individual potential on site - whether for strengthening retail or integrating mixed-use concepts in the sense of sustainable city centers.
