MEC takes over the management of two further retail properties for TIAA Henderson Real Estate

MEC METRO-ECE Centermanagement GmbH & Co. KG took over the property, center and leasing management of the retail park “Westoria Gießen” in May. This was followed by an additional mandate for the property and leasing management of a hypermarket property in Weinheim in the past month. So far, TH Real Estate has commissioned MEC with the management of five centers.

The retail park “Westoria Gießen” is situated on the B492 in the industrial area Gießen-West. Amongst the tenants of the 22 rental units with a total sales area of 18,000 m², are anchor tenants Real and Saturn, as well as Ernsting’s Family, McDonald’s, McPaper, Aktiv Optik, Bäckerei Kamps and Metzgerei Zeiss. The shopping center with a classic L-Mall was revitalised in 2009 and received a new branding and the name Westoria in 2012.

The property, which was built in 2001 in Weinheim and which is owned by IntReal KVG, is situated within a small industrial area. The anchor tenant is Marktkauf-Scheck-In-Center (EDEKA Group), who takes up a good 90 per cent of the total area with approx. 9,500 m². There are several concessionaires in the foyer area in front of the cashiers, such as a travel agency, hairdresser, Asian snack bar and bakery. The range of services offered by the center is complemented by a “Clever Fit” fitness studio.

“The two new properties fit into our portfolio perfectly. Particularly the Westoria Gießen has great potential for rental development,” says a pleased Christian Schröder, COO of MEC. Based on our good experiences with MEC in Baden-Baden, Karlsruhe and Dreieich, we are convinced that we will also be able to work successfully with MEC in Gießen and Weinheim. In addition to that, we are already holding intensive discussions regarding further properties,” adds Kathrin Andres, who is responsible for Asset Management of retail properties in Germany at TIAA Henderson Real Estate.