across 0414 issuu
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Mixed-use Why mixed-use developments are not always among investors’ favorites and why “living, working, and shopping under one roof” may still be the future of urban planningTRANSCRIPT
www.across-magazine.com
4|2014PP, A-1010 ViennA
Vn: 08Z037864M
Carmen Chieregato, CeO of Cogest Retail, on the further evolution of loyalty programsThe first-ever outlet center within a historic city center opens its doors
new data proves that the sector’s recovery is consolidating after years of economic crisis
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Why mixed-use developments are not
always among investors’ favorites
and why “living, working, and shopping under one roof” may
still be the future of urban planning
mixedus end hy “living, working, and ho p ng under one roof” ma
still be the future of urban planning
Chi
CONNECTWITH US.
COMINGSOON
NEWPROJECTSIN AUSTRIA
www.ses-european.com
Connect with us:SES Spar European Shopping Centers GmbHT: +43 662 44 71-7041, [email protected]
Connect with the Spirit of RetailingSES specialises in developing and managing first-class shopping centers in the best locations – as property owners or for investors. From center and asset management through to executing large construction projects, SES offers the whole range of services. Metropolitan, vibrant and popular shopping destinations as timeless, modern marketplaces with the very highest quality environment, these are the result of a success story stretching over decades. Currently SES manages 28 sites and is heading for further expansion. This goes hand in hand with our experience, solid connections and responsibility.
6—8 October 2014MESSE MUNICH
Booth A2.112
seestadtBREGENZ
2017
weberzeileRIED
2015
AUSTRIA SLOVENIA HUNGARY ITALY CZECH REPUBLIC
humaWIEN
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cityparkGRAZ
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SES14_Ins_Across_210x275_engl_1408.indd 1 09.09.14 12:43
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Prague Is Finally Back on the Radar! Is it? ..................................................... 6Commentary.by.Carlo.Gradl
The Role of Non-Retail Tenants in Shopping Centers .............................. 7Commentary.by.Philip.Evans
Loyalty Programs: A Step Forward.... 8Commentary.by.Carmen.Chieregato
Corporate Architecture for Retail Chains ................................................. 9Commentary.by.Thomas.Mattesich
Today’s Consumer: An “Engaging Challenge”......................................... 10Commentary.by.Thomas.Mark
How to Encapsulate the Aspirations of Modern Shoppers ........................ 12Commentary.by.Karolin.Forsling
The Shopping Center Is an Entertainment Company.................. 13Commentary.by.Wolfgang.Idl
The Anchor Tenant: Blessing or Curse? ............................................... 14Commentary.by.Rainer.Kundörfer
Projects & Openings............................16Projects,.openings,.human.resource.announcements,.and.other.retail.real..estate.news
Docks Bruxsel Shopping Center Strives to Be Different .................... .32This.project.in.the.Belgian.capital,.with.its.49,000.sq.m.of.GLA,.joins.the.European.trend.toward.greater.recognition.of.the.importance.of.waterways
Active Even Before the Opening .... .33Although.Promenade.Sainte-Catherine.will.only.open.in.the.second.half.of.next.year,.Redevco.is.already.undertaking.regular.marketing.and.promotional.activities
“We Want to Offer Customers a Unique, Pleasant, and Multisensory Shopping Experience” .................... .34Ruhr.Park.in.Bochum.will.undergo.a.radical.refurbishment..Manfred.Lehnhoff,.Develop-ment.Project.Leader.at.mfi,.tells.ACROSS.how.the.largest.open-air.shopping.center.in.Germany.will.become.an.inspiration.to.visitors
Makeover for Kurpfalz Center Mannheim ........................................ .38The.retail.center.in.the.north.of.Mannheim.is.being.revitalized.and.expanded
Mixed-use......................................... .40Why.mixed-use.developments.are..not.always.among.investors’.favorites..and.why.“living,.working,.and.shopping.under.one.roof”.may.still.be.the.future..of.urban.planning
Concentration on Shopping Centers and Offices ...................................... .46Jens.Hartmann,.CEO.of.Allianz.Real..Estate.Germany.GmbH,.emphasizes..that.mixed-use.properties.offer.broader.risk.diversification.within.the.object
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Grafton Shopping Center Gets an Avatar ............................................... .48The.mall.in.Cambridge.recently.presented.the.Tensator.Virtual.Assistant.
Rating Lighting ................................ .50MK.Illumination.has.developed.“Buy.Smart,”.the.first.review.system.for.decorative.lighting.products
Moving to an “Experience Economy” ......................................... .52Foodservice.column.by.Jonathan.Doughty
Christmasworld Tenders the “Best Christmas City” award .................... .54Looking.for.the.most.beautiful.Christmas.decorations..The.reason?.Appealing.environments.are.necessary.if.more.customers.are.to.shop.on.city.high.streets.again
ICSC Asset Management Education Seminar ............................................84This.event.in.further.education.takes.place.on.November.26.in.Milan
Record Volume Expected to Continue ...................................... .78DTZ.Research’s.“Investment.Market.Update.–.Europe.Retail.&.Shopping.Center.H1.2014”.is.now.available
Four Decades of Evolution and Transformation in Spain...................72The.shopping.center.market.in.this.Iberian.country.has.undergone.an.eventful.transition..New.data.proves.that.the.sector’s.recovery.is.consolidating.after.five.long.years.of.economic.crisis
Launch of City Outlet Bad Münstereifel ............................. .64The.first.ever.outlet.center.within.a.historic.city.center.opened.its.doors.on.August.14.
“Tenants Are Normally Very Cooperative” ................................70According.to.Volker.Noack,.a.member..of.Union.Investment.Real.Estate.GmbH’s.management,.the.most.important.part..of.refurbishments.is.ensuring.that.tenants.engage.positively.with.the.project
Popular Locations ........................... .56In.a.mobile.society.with.increasing.numbers.of.commuters,.train.stations.and.airports.are.an.important.part.of.everyday.life.for.many.people
Gap Expands into Central Europe ................................ .58The.American.fashion.giant.is.filling.in.the.empty.spaces.in.its.store.network.in.Austria.and.Slovenia
Go West – Life Is (not so) Peaceful There ................................ .60Commentary.by.ACROSS’s.Retail.Scout.Jörg.F..Bitzer
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In.hard.times,.when.consumption.declines.and.customers.grow.more.elusive.–.keen.as.they.are.to.follow.the.alluring.promotional.offers.coming.in.from.all.over.–.customer.retention.is.a.vital.yet.challenging.goal.
Shopping.Malls.are.under.siege..Spending.volumes.are.dropping.due.to.the.crisis.and.to.new.purchasing.models..E-commerce.is.increas-ing.its.market.share,.and.the.globalization.of.merchandise.and.brands.makes.the.majority.of.malls.look.the.same.–.the.list.continues..Throughout.our.twenty.years.of.experience.in.managing.shopping.centers.and.mixed-use.schemes,.it.has.always.been.a.priority.to..protect.the.client.base..The.good.news.is.that.we.now.have.better..opportunities.and.tools.than.we.had.in.1996,.for.instance,.when.La.Grande.Mela.shopping.centre.near.Verona,.Italy,.launched.the.first.loyalty.card..Loyalty.programs.have.become.a.fundamental.part.of.shopping.centers’.marketing.mix.and.cards.have.evolved.offering.far.more.than.discounts..As.a.matter.of.fact,.marketing.budgets..continue.to.feature.loyalty.cards,.while.discarding.other.more..outdated.initiatives..The.word.is.“engagement,”.and.loyalty.cards.not.only.allow.issuers.to.engage.every.single.holder.with.tailor-made..communication.and.promotions,.they.also.provide.timely,.in-depth..information.on.customers’.profiles.and.expenditures.
Tower.Center.Rijeka,.the.first.shopping.center.in.Croatia.to.launch.its.fidelity.card.in.2011,.provides.an.interesting.case.study..When.we..decided.to.invest.in.this.project,.we.had.compelling.needs:.While.the.newly.opened.Tower.Center.was.the.only.mall.in.Rijeka.in.2006,..several.competitors.arrived.in.the.following.years.to.target.the.same.catchment.area..Our.aim.was.to.protect.and.retain.existing..customers.as.well.as.attract.new.customers,.offering.a.range.of..dedicated.services.that.could.not.be.found.anywhere.else...The.Golden.Tower.Card.was.thus.conceived.as.a.multipurpose.tool,.easily.adapted.to.different.campaigns.and.promotions.
The.system.is.intuitive.for.customers,.but.with.extremely.sophisti-.cated.functions.for.loyalty.program.managers..For.every.purchase.above.a.certain.amount.(100.Croatian.kunas,.approximately.€12),.holders.gain.points.that.are.transferred.to.their.Golden.Tower.Card.
loyalTy PRoGRams: a sTeP foRwaRd
by caRmen chieReGaTo, imaGe: coGesT ReTail
Carmen Chieregato
CEO of Cogest Retail
by.a.special.POS.terminal..These.points.can.be.redeemed.for.a..discount.on.a.subsequent.purchase.at.ANY.store.in.the.mall..It’s.this.“coalition”.system.that.makes.the.difference:.While.it.is.relatively..simple.for.a.single.retailer.to.calculate.a.sustainable.discount.based.on.its.margins,.finding.a.synthesis.among.the.120.tenants.of.Tower.Center.required.a.lengthy.mediation..Furthermore,.the.Golden.Tower.Program.provides.a.free.service.called.“shopping.with.a.stylist,”..offering.the.consultancy.of.a.fashion.adviser.who,.for.a.couple.of.hours,.gives.personalized.tips.and.assists.card.holders.in.their..purchases..
The.program.was.launched.with.a.strong.marketing.campaign.and.gained.10,000.members.by.the.end.of.its.first.year..It.continued.to.grow.to.its.current.level.of.33,000.active.members..To.date,.Tower.Center.remains.the.only.mall.in.Croatia.to.have.its.own.fidelity.card..It.has.become.a.cornerstone.for.all.promotional.activities,.spanning.from.award.games.(for.card.members.only).to.the.giving.away.of.tick-ets.for.events..The.database,.complete.with.e-mail.addresses.and.cell.phone.numbers,.is.used.to.deliver.targeted.messages.–.from.birthday.greetings.and.gifts.to.news.on.mall.life.–.and.source.info.on.custom-ers’.behaviors.and.other.trends..The.Tower.Center.coalition.system.stands.out.as.a.successful.case.study.in.Cogest.Retail’s.records.and.it’s.being.extended.to.other.leading.malls.throughout.Italy.
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coRPoRaTe aRchiTecTURe foR ReTail chainsThe.age.of.anonymous.“tin.boxes”.at.the.city.limits.appears.to.be.over.–.the.trend.towards.quality.has.reached.the.subject.of.building.aesthetics..Retail.chains.in.Austria.have.been.putting.their.faith.in.the.effect.of.good.design.for.quite.some.time.and.corporate.architecture.is.also.becoming.an.issue.for.this.sector.in.Germany..Studies.show.that.more.than.30%.of.new.customers.are.first.drawn.to.a.company.by.its.architecture,.because.buildings.with.character.stand.out.and.attract..This.means.that.retailers.also.benefit.from.good.architecture,.though.this.is.not.limited.to.an.attractive.appearance..Architecture.that.optimally.supports.the.core.processes.of.a.shopping.center.also.promises.a.visit.that.will.be.memorable.and.varied.experience...We.are.deeply.interested.in.the.impact.of.architecture.on.the..success.of.a.company.and.invest.a.lot.of.time.in.the.early.design.phase..In.order.to.ensure.that.the.tailor-made.solution.also.yields.long-term.success,.our.integrated.design.process.optimizes.as.many.design.decisions.as.possible.right.from.the.start.
by Thomas maTTesich, imaGe: aTP/beckeR lacoUR
In.architecture,.tailor-made.means.built.identity..A.retail.brand.–.whether.the.chain.is.expanding.or.relaunching.–.is.experienced.through.corporate.architecture..The.criteria.for.this.experience.range.from.visual.recognizability.to.spatial.effects.and.practical.function-ality,.to.the.approach.to.life.the.architecture.manages.to.convey...A.building.can.excite,.enthrall,.enchant,.and.surprise..The.way.in.which.a.building.is.perceived.plays.a.decisive.role.in.both.the.brand.image.and.its.eventual.success..Architecture.assumes.an.interactive.role.by.moderating.between.brand.values.and.user.behavior.–.a.principle.which,.incidentally,.applies.not.only.to.large.shopping.centers.but.also.to.small.specialist.retailers.and.supermarkets...We.have.been.involved.in.a.fascinating.cooperative.project.with.a.German.food.retailer.for.years.–.from.the.development.of.a.new..architectural.approach.and.design.of.an.internationally.award-.winning.supermarket.prototype.to.the.execution.of.numerous.new.build.and.refurbishment.projects.that.both.implement.and.further.develop.our.concept..This.approach,.which.leaves.open.a.broad.range.of.urban.design.options,.has.been.particularly.successful.in..urban.settings..But.specific.challenges,.like.the.development.of.a..timber-based.retail.park.in.a.rural.context,.have.also.given.us.the..opportunity. to.develop.accents.and.elements. that.create..image.and.identity.
Coined.in.the.1990s,.the.term.“Corporate.Architecture,”.is.widely..applied.to.the.design.approach.of.a.new.generation.of.architects..This.approach.includes.visual.communication,.marketing,.urban..design,.and.sociology..The.challenge.lies.in.the.universal.presence.of.brands,.the.portrayal.of.which.has.a.huge.influence.on.our..(buying).behavior.as.well.as.the.wider.form.and.development.of..society..This.is.why.architects.must.face.up.to.this.opportunity.and.address.it.with.a.great.sense.of.responsibility.
thomas mattesiCh
Architect, Partner at ATP architects engineers and Managing Director of ATP Munich which, with 75 employees, is one of the largest offices in the Southern German Region.
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What is your opinion on this topic? Discuss it with us! Send your opinion [email protected]!
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Multi Corporation announces the appointment of Mark Siezen (photo) as European Director of Leasing effective October 1, 2014. Siezen is currently COO of NSI N.V. He was previously CEO of C&A in China and Director of Development and Managing Director Netherlands at Redevco. Jaap Blokhuis, CEO of Multi Corporation, said: “We are very pleased that Mark has decided to join the Multi management team. Mark brings a lot of international experience, both on the retail side and the real estate side of the business.” Jonathan Lurie, Managing Director of Blackstone, commented: “The appointment of Mark Siezen to oversee leasing underscores our commitment to place retailers and customers at the heart of everything that Multi does. On behalf of the supervisory board, we look forward to working with Mark as we continue to strengthen Multi’s position as an innovative asset manager for high-quality shopping centers throughout Europe and Turkey.”
ALTER WALL AWAKENED WITH A KISS
hamburg will regain a good bit of its history over the next three years. art-invest Real estate is developing alter wall (“old wall”) – a prestigious address next to city hall – into a shopping boulevard. The road section with house numbers from two to 32 already was a busy shopping street by 1900 and is now set to become busy once again. “our goal is to re-open this historically significant and lively area of hamburg’s city center for citizens and visitors and create a new location with a high quality of stay,” says markus wiedenmann, managing Partner of art-invest Real estate. about 10,000 sq m of retail space will arise on the canal-side and ground floor, along with around 18,000 sq m of office space behind the historic facades of the 150-meter long building complex. an underground garage with 220 parking spaces including public parking is also planned. one of the high-lights is an arcade that will be built in the middle of the building complex. from there, a new pedestrian bridge will lead to neuer wall. The section of alter wall in front of the building, which currently serves as a parking area, will be developed into an urban boulevard. by mid-2017, the area will include spaces for hanging out, including benches, trees, and opportunities for outdoor foodservice. The route taken by passers-by will also be lined with art. That’s because alter wall’s long-term tenant, the bucerius kunst forum, has played a special role in the planning process. The renovation of the building complex has already begun and demolition work has started. The actual construction work is slated to begin this autumn. completion is expected by fall 2017. The three-year construction time results from, among other things, the complex excavation required for the underground garage alone, which will take approximately one year to complete.
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WESTFIELD MILAN INTRODUCES GALERIES LAFAyETTE TO THE COUNTRy
westfield and arcus Real estate, joint developers of westfield milan, have reached agreement with Galeries lafayette to open a flagship store in the center, which is set to be the country’s biggest mall. The italian Galeries lafayette store will be only its second european store outside of france and follows recent openings in beijing and Jakarta. with retail space on four floors, the 18,000-sq-m Gla flagship store will reinforce westfield milan’s position as a new shopping destination for milanese, italian, european shoppers, and international tourists, and it will complement the city’s traditional shopping areas. at 175,000 sq m, the €1.3 billion westfield milan development will feature over 300 stores, a luxury village, cinemas, leisure and entertainment facilities, 50 restaurants, and parking for 10,000 cars. The mall will have a compelling catchment with a market potential of €4.9 billion and a population of over 7 million people. milan has one of the highest per capita rates of retail spending in europe coupled with a significant lack of shopping centers. westfield milan will therefore create a great opportunity for international and italian retailers to capture spending in a key global shopping destination. it is anticipated that it will deliver sales in excess of €1 billion, comparable to both westfield london and westfield stratford city, at €1.2 billion each. Good progress is already being made on all issues relating to authorities and the delivery of vital infrastructure for the project. it is expected to open in 2017 or 2018.
ITALy
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TIAA Henderson Real Estate (TH Real Estate) has hired Stephan Austrup as Head of Retail, Germany. His primary responsibility will be running asset management for TH Real Estate’s three largest German shopping centers in Berlin, Munich, and Erlangen, in addition to sourcing new stock throughout Germany. Austrup will also take on management responsibility for the existing German retail team, which runs the remaining German retail assets. He will report to Tim Horrocks, Head of Germany, Director of Europe. Austrup joins TH Real Estate from Sonae Sierra, where his primary responsibilities included acquisition and development of new projects for Sierra Germany GmbH. Previous roles included positions at mfi Management für Immobilien AG and Ernst & Young. He is a member of RICS and of the advisory board for the graduate degree program Retail Property at the IRE|BS International Real Estate Business School. In addition to an engineering degree, he has an MBA in International Real Estate Management and has completed a post- graduate degree program for retail property managers.
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TWO NEW VENDO PARKS
TRei Real estate Gmbh, the real estate subsidiary of the Tengelmann Group, recently opened two more retail centers under the brand name “Vendo Park” in Galanta, slovakia (photo), and in mohelnice in the czech Republic. The company is advancing its transnational retail park concept. The “Vendo Park” brand stands for quality, particularly in terms of location and design. its tenants include retailers from the non-food sector, such as kik, Tedi, deichmann, Pepco, dm, wiky, Pla-neo, and sportisimo. a wide range of food products is provided in each case by the neighboring kaufland market. “our Vendo Parks was fully leased well before their repsective openings. Unfortunately we were unable to provide space for all prospective tenants,” said michael Tauwinkl, head of Project development and leasing at TRei Real estate czech Republic. with the two new openings in Galanta and mohelnice, the company now operates a total of nine Vendo parks in Poland, the czech Republic, and slovakia.
SLOVAKIA AND THE CZECH REPUBLIC
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AUxIDEICO TAKES OVER MANAGEMENT OF MARINEDA CITy
The spanish subsidiary of ece, auxideico, which is one of the leading shopping center operators in spain, was awarded the management contract for marineda city shopping center in la coruña, in northwest spain. The center was only recently acquired by merlin Properties. marineda city is one of the largest shopping centers in the country. it comprises a rental area of 176,000 sq m, 190 shops, and 6,500 parking spaces. international brands in the mall include fashion labels such as inditex, h&m, Primark, c&a, Grupo cortefiel, and benetton. further popular brands include bricor, conforama, decathlon, media markt, san luis, and worten. The shopping center also provides leisure activities, such as a 12-screen cinema run by cinesa, and a large variety of restaurants. Popular brands like el corte inglés and ikea can also be found on site. Rüdiger dany, ceo of auxideico: “we would like to thank marineda city’s investors. They placed their trust in us by awarding us the management contract. we are confident that, with our experience, we, together with the tenants, will achieve success with the shopping center in the future. This new chance provides us with the opportunity to show that auxideico is one of the leading center management companies in spain.”
SPAIN
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why mixed-use developments have not always been investors’ favorite projects and why “living, working, and shopping under one roof”
could still be the future of urban development.
A.shopping.center.with.no.less.than.110.stores.integrated. into. a. football. stadium.. This..combination.may.sound.unusual.for.industry.outsiders,.but.in.the.western.Slovakian.city..of.Trnava,.just.such.a.project.is.becoming.a..reality..In.the.autumn.of.next.year,.“Arena.City”.will.open.the.doors.to.its.almost.29,500.sq.m.of.lettable.area..Pavol.Adamec,.Chairman.of.City.
Arena.Plus,.says:.“The.project’s.potentially.strong.return.on.investment.is.being.confirmed.by.the.immense.interest.expressed.by.famous.brand.name.shops..And.this.along.with.a.five-screen. multiplex,. reputable. restaurants,..a.bowling.alley,.a.hand.car.wash,.a.children’s..e n te r t a i n m e n t . w o r l d . a n d . a . c ove r e d..pedestrian.zone.at.the.city.walls.”
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COVER STORy
Mixed-use.properties.are.currently.impossible.to.avoid,.but.the.pairing.of.a.stadium.and.a.shopping.center.really.is.unusual..Office.buildings.coupled.to.shopping.galleries.and.malls.linked.with.flats.are.common.combinations.in.metropolitan.areas,..however..What.makes.“living,”.“working,”.and.“shopping”.under.one.roof.so.interesting?.Henrie.W..Kötter,.Chief.Investment.Officer.at.ECE.and.Managing.Director.responsible.for.the.area.of..development.as.well.as.mergers.&.acquisitions,..explains:.“We’ve.developed.numerous.mixed-use.properties.in.Dresden,.Frankfurt,.Stuttgart,.and.elsewhere.in.recent.years,.but.just.as.many..projects.are.pure.shopping.centers..Only.dialogue.with.the.city.will.show.whether.mixed-use.is..appropriate..Where.the.available.space.is.small,..additional.uses.in.shopping.projects.are.difficult.to.integrate..Generally,.residents.want.a.livable,..desirable.neighborhood..This.means.different.uses,.
but.not.necessarily.within.one.building..The.most.important.thing.is.that.each.use.area.is.sensibly.designed.and.not.a.bad.trade-off.”
THE RIGHT MIx IS DECISIVE
Bruno.Ettenauer,.CEO.of.CA.Immo,.expresses.a.similar.opinion:.“We.deliberately.build.mixed-use.spaces.in.our.large.neighborhood.developments.in.Germany.to.ensure.that.the.neighborhoods.stay.lively..In.our.view,.short.distances,.sufficient.green.areas,.good.local.amenities,.and.infra-structure.peppered.with.social.institutions.are.the.recipe.for.functioning.neighborhoods..The.right.mix.is.crucial..Not.every.neighborhood.can.be.a.city.within.a.city.”
Dif ferent. countries,. similar. customs.. In..Scandinavia,.especially.in.Sweden.and.Finland,.municipalities.often.want.to.attach.housing.to..retail.development.projects.in.urban.settings...Public.transportation.is.also.a.key.element.in..Nordic.urban.planning.and.the.daily.life.of.city.dwellers..Marcel.Kokkeel,.CEO.of.Citycon,..emphasizes.that.his.company.considers.public.transportation. hubs. to. be. functional. and..sustainable.anchors.for.its.centers..He.continues:.“We.have.a.great.history.of.adding.versatile.public.services.–.libraries,.job.centers,.gyms,.social.and.health.services.–.to.our.shopping.centers.and.we.see.this.kind.of.thinking.becoming.more.and.more.of.a. trend.”. In.Eastern.Finland,.Citycon. is..(re-)developing.a.mall.into.which.the.city.theater.will.be.incorporated..According.to.Kokkeel,.this..efficient.use.of.space.is.a.unique.way.to.increase.customer.flow,.especially.in.the.evening.
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City Arena will open its doors in Trnava in autumn 2015. It is more than a stadium:
It also includes a shopping center offering customers almost 29,500 sq m.
Change of ownership for a “jack-of-all-trades tower”: Morgan Stanley Real Estate Investing and CC Real recently bought the Millennium City in Vienna.
henrie W. Kötter
Chief Investment Officer at ECE and Managing Director responsible for the area of development as well as mergers & acquisitions: “The most important thing is that each use area is sensibly designed and not a bad trade-off.”
Bruno ettenauer
CEO of CA Immo: “We deliberately build mixed-use spaces in our large neighbor-hood developments in Germany to ensure that the neighbor-hoods stay lively.”
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4 | 2014 ACROSS 9
PLEA FOR PURITy
Where.there.is.light,.there.is.shadow,.however..From.an.investor’s.point.of.view,.the.so-called..purity.of.projects.is.one.of.the.main.arguments.against.mixed-use.real.estate..Prime.office.space.in.an.“all-rounder”.tower.may.rub.along.poorly.with.the.retail.property.on.the.ground.floor.and.the.penthouse.on.the.top.floor..Other.sticking.points.are.the.construction's.complexity,.the.manage-ment.of.several.operators.on.the.same.project,.the.large.price.tag.of.a.vertical.project.with.buildings.above.a.shopping-center,.the.intricacy.of.the.legal.assembly,.and.expensive.rents..Matthieu.Babinet,.Development.Director.at.Apsys,.adds:.“Essen-.tially,.the.most.important.aspect.that.occurs.is,.with.a.complex.project.in.all.its.items,.we.must.make.things.clear.for.everyone.–.whether.it.is.a.bank,.an.investor,.or.a.customer..Simple.interplays,.simple.contracts,.simple.spacial.concepts..The.complexity.must.be.hidden.”.Patrick.McKay,..Development.Director.at.Kulczyk.Silverstein..Properties,.mentions.other.important.aspects.in.the.development.of.mixed-use.real.estate:.“It.is.more.challenging.to.ensure.that.different.functions.can.co-exist.smoothly.and.efficiency.is.maintained.for.all.types.of.uses..Marketing.and.communica-tions.must.be.tailored.carefully.to.meet.the..expectations.of.the.different.target.groups.”
Futureal.points.out.that.mixed-use.real.estate..requires.the.development.team.to.have.complex.capabilities..Furthermore,.they.really.show.their..
advantages.when.they.are.large.enough.to.include.several.real.estate.segments..Large.project.size,.however,.is.a.disadvantage.due.to.capital.require-ments.and.phasing.problems..Tibor.Tatár,.CEO.Commerical.Development.at.Futureal,.sees.other.challenges.in.the.development.of.large-scale.mixed-use.schemes:.“Starting.with.residential.or.office.space,.it.might.be.difficult.to.convince..owners.and/or.office.tenants.that.the.whole..project.will.happen.and.that.construction.will.not.be.disturbing..A.major.retail.scheme.can.be.a.kick-start,.however.retail.can’t.exist.without.a.proper.primary.catchment,.which.the.residential/office.part.of.the.project.is.supposed.to.provide..It’s.a.catch.22.”.
CATCH 22
Despite.this.catch.22.and.other.identified.chal-lenges,.mixed-use.real.estate.of.all.degrees.and.combinations.becomes. increasingly.more..popular.in.Europe..One.reason.is.certainly.that,.true.to.the.motto.of.the.“city.of.short.distances,”..people’s.center.of.life.will.revolve.around.an.area.of.just.a.few.hundred.square.meters.in.the.future..Movement.between.sleeping,.living,.working,.shopping,.and.entertainment.will.then.only.take.place.vertically.rather.than.horizontally.
There.are. several. projects. in.developers’..pipelines.that.provide.good.approaches.in.this.re-gard..Futureal.built.70,000.sq.m.of.office.space.(called.Budapest.One.Business.Park).and.a.
The 90,000-sq-m Project Muse in Metz includes a shopping center with 113 stores, service-enhanced
residential buildings, and offices.
marCel KoKKeel
CEO von Citycon: “We have a great history of adding versatile public services – libraries, social and health services – to our shopping centers and we see this kind of thinking becoming more and more of a trend.”
matthieu BaBinet
Development Director at Apsys: “The most important aspect that occurs is, with a complex project in all its items, we must make things clear for everyone – whether it is a bank, an investor, or a customer. Simple interplays, simple contracts, simple spacial concepts. The complexity must be hidden.”
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10 ACROSS 4 | 2014
COVER STORy
THINK ACROSS.
SUBSCRIBE TO THE NUMBER ONE MAGAZINE FOR RETAIL REAL ESTATE IN EUROPE.
“acRoss – european Retail Real estate magazine” is the
only international and independent medium for the shopping center
industry in europe. The magazine is published six times a year
entirely in english, and is distributed in 42 european
countries directly to the decision makers of the retail
real estate sector.
€ 119.for.6 issues.–.Subscribe.online.at:..www.across-magazine.com
THE SHOPPING CENTER PRO’S ARE READING
44,000-sq-m.shopping.center.(Etele.City.Center).in.Kelenföld.in.the.Hungarian.capital..The.two.schemes,.combined.with.a.large.scale.infra-.structure.development.project.carried.out.by.the.city,.make.up.one.of.the.country’s.largest-ever.city-center.revitalization.projects..Their.comple-tion.is.scheduled.for.2017..Also.in.2017,.Apsys.plans.to.complete.Muse.in.Metz,.France..The.90,000-sq-m.project.includes.a.shopping.center.with.113.stores,.service-enhanced.residential.buildings,.and.offices..Two.years.earlier,.in.2015,.Kulczyk.Silverstein.Properties.is.opening.Ethos,.the.largest.mixed-use.building.in.the.heart.of..Warsaw’s.historic.Royal.Route..The.property..consists.of.two.buildings.–.a.six.story.tall.main.building.and.a.lower.one,.known.as.Piano.
SOUGHT-AFTER TRANSPORT HUBS
The.bottom.line.is.that.mixed-use.developments.are.currently.not.always.among.investors’.favorite.objects..They.are.increasingly.becoming.the.focus.of.the.real.estate.industry.as.a.whole,.however..One.reason.is.that.they.are.an.answer.to.the..frequent.scarcity.of.space.in.Europe’s.rapidly.grow-ing.metropolises..For.example,.an.“all-rounder..tower”.recently.changed.owners:.Morgan.Stanley.Real.Estate.Investing.and.CC.Real.bought.the..Millennium.City.in.Vienna..Its.purchase.price.was.not.disclosed..Shopping.centers.in.transport.hubs,.like.railway.stations.and.airports,.are.fully.justified,.as.proved.by.numerous.successful.projects.across.the.continent..When.asked.about. investors..potentially.holding.back.from.mixed-use.properties,.Henrie.W..Kötter.of.ECE,.responded:.“We.don’t.see.it.that.way..Both.the.Skyline.Plaza.in.Frankfurt,.which.opened.in.2013,.and.Milaneo,.which.will.be.finished.this.October.in.Stuttgart,.are.mixed-use.projects.that.found.investors.very.quickly.”
Ethos, developed by Kulczyk Silverstein Properties in Warsaw, is an
office and retail building. Its completion is expected in 2015.
Etele City Center is a multifunctional complex within a public transportation junction in Budapest, at the end of the new M4 metro line. Scheduled completion: 2017.
patriCK mCKay
Development Director at Kulczyk Silverstein Properties: “It is more challenging to ensure that different functions can co-exist smoothly and efficiency is maintained for all types of uses.”
tiBor tatár
CEO Commercial Develop-ment at Futureal: “A major retail scheme can be a kick-start, however retail can’t exist without a proper primary catchment, which the residential/office part of the project is supposed to provide.”
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12 ACROSS 4 | 2014
COVER STORyCOVER STORy
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Jens hartmann, ceo of allianz Real estate Germany Gmbh, emphasizes that mixed-use properties offer broader risk diversification within the object.
Images: allianz
aCross: many investors are remarK-aBly reluCtant to purChase mixed-use real estate. What do you thinK is the reason for their reluCtanCe?Jens hartmann:. In.general,. institutional..investors.have.a.clear.focus.on.certain.types.of.use..They.have.extensive.expertise.in.these..segments..In.its.direct.investments,.Allianz.Real..Estate.currently.focuses.primarily.on.office.build-ings.and.shopping.centers..In.these.areas,.the..acquisition.of.a.mixed-use.property.can.certainly.be.interesting.as.long.as.risk/return.aspects.are.considered..Oftentimes.usage.types.are.offered.that.are.not.within.the.investor’s.focus.area..In..addition,.one.must.make.sure.that.various.types.of.usage.areas.are.ideally.placed.within.mixed-use.properties..For.example,.in.real.estate.with.a.retail.focus,.office.entrances.might.not.be.prominent.enough.or.office.space.for.potential.tenants.not..attractive.enough..In.addition,.the.quality.of.the..location.for.each.type.of.use.should.be.evaluated..Particularly.risky.aspects.in.mixed-use.properties.must.be.carefully.weighed.in.each.case..
aCross: What opportunities do mixed-use real estate oBJeCts offer in a portfolio?hartmann:As.already.hinted,.mixed-use..properties.provide.a.broader.distribution.of.risk.within.the.object..The.investment’s.performance.is.thus.less.dependent.on.the.general.develop-ment.of.the.relevant.market.segment..Mixed-use.properties.are.also.frequently.the.only.way.to.get.exposure.to.urban.locations,.in.particular.
aCross: the supply of spaCe in Cities is getting shorter. is the ConCept of “living,” “WorKing,” “shopping,” and “relaxing” the ultimate solution in urBan muniCipal development?hartmann: Different.trends.can.be.observed.in.urban.development..They.must.be.evaluated.very.differently.with.regard.to.the.various.cities.and..metropolitan.areas.as.well. as. their. future..prospects..The.combination.of.usage.types.that.fit.together.is.an.essential.aspect.from.an.urban..planning.point.of.view..Such.concepts.require.
concenTRaTion on shoPPinG cenTeRs and offices
Jens hartmann
CEO of Allianz Real Estate Germany GmbH. This company is responsible
for Allianz’s investments in Germany, Austria, CEE, and Scandinavia.
14 ACROSS 4 | 2014
COVER STORy
structures..Such.properties.are.not.considered.by.so-called.core.investors.like.Allianz..The.group.of.prospective.buyers.is.too.small,.marketing.periods.are.longer..This.often.impacts.the.sales.price.
aCross: What strategy does allianZ real estate folloW in terms of mixed-use Buildings? hartmann:.As.mentioned.above,.Allianz..focuses.on.office.and.retail.use..We.also.acquire.mixed-use.objects.in.these.segments.if.both.uses.work.well..An.example.is.our.latest.investment,.Isartor.City,.a.property.in.a.very.good.city-center.location.in.Munich..It.features.Globetrotter.as.a.strong.and.long-term.tenant.on.the.retail.side.and.Taylor.Wessing.as.a.prestigious.key.tenant.of.the.office.space..Europa.Passage,.in.a.prime.location.between.Alster.Lake.and.Mönckebergstraße.in.Hamburg,.also.exemplifies.attractive.retail.and..office.uses.in.one.object
sound.and.sustainable.urban.development..concepts.that.offer.the.individual.investor.an..attractive.framework.and.a.high.level.of.security..for.his/her.investments..Close.and.constant..exchange.between.the.parties.on.the.investor..and.the.urban.development.side.is.an.important.prerequisite.
aCross: hoW easy (or diffiCult) is it to sell mixed-use properties?hartmann:.This.is.very.much.dependent.on.the.particular.property.and.the.interests.of.investors..Classic.commercial.buildings. in.good.retail..locations.with.apartments.or.offices.on.the.upper.floors.are.often.easy.to.sell..This.is.especially.the.case.at.volumes.that.are.interesting.for.private..investors.and.family.offices..Selling.objects.in.good.locations.that.are.attractive.with.regard.to.each.type.of.use,.or.a.property.with.a.principal.use.in.which.other.usage.types.play.only.a.subordinate.role,.is.usually.no.problem.either..It.is.more.difficult.to.sell.those.designed.for.special.uses,.such.as..hotels,.or.those.with.sub-optimal.investment..
Europa Passage, in a prime location between Alster Lake and Mönckeberg-straße in Hamburg, exemplifies attractive retail and office uses in one object.
4 | 2014 ACROSS 15
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We are involved with all phases and questions of expansion, market development, site development and site optimization. In dealing with these issues, we take the
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Kundörfer_Inserat ACROSS_210x132.indd 4 24.03.13 16:47
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Carmen Chieregato, CeO of Cogest Retail, on the further evolution of loyalty programsThe first-ever outlet center within a historic city center opens its doors
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AC
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Mix
ed-U
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OPiniOnFACTORy OuTleTs COunTRy RePORT sPAin
Why mixed-use developments are not
always among investors’ favorites
and why “living, working, and shopping under one roof” may
still be the future of urban planning
mixedus end hy “living, working, and ho p ng under one roof” ma
still be the future of urban planning
Chi
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Connect with us:SES Spar European Shopping Centers GmbHT: +43 662 44 71-7041, [email protected]
Connect with the Spirit of RetailingSES specialises in developing and managing first-class shopping centers in the best locations – as property owners or for investors. From center and asset management through to executing large construction projects, SES offers the whole range of services. Metropolitan, vibrant and popular shopping destinations as timeless, modern marketplaces with the very highest quality environment, these are the result of a success story stretching over decades. Currently SES manages 28 sites and is heading for further expansion. This goes hand in hand with our experience, solid connections and responsibility.
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ACROSS Strategic Partners - Our direct line to the industry
Many.industry.players,.experts,.and.leading.companies.in.the.retail.real.estate.sector.have.supported.us.in.word.and.deed.in.the.preparation.of.this.edition.of.ACROSS..We.would.like.to.take.this.opportunity.to.thank.all.of.our.strategic.partners,.guest.authors,.and.suppliers.of.ideas,.without.whom.it.would.be.nearly.impossible.to.create.this.informative.magazine.and.make.it.so.relevant.to.the.industry.
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ACROSS.is.the.leading.European.retail..real.estate.magazine..This.independent.magazine.informs.about.the.latest.projects.and.brings.relevant.news.in.top-quality.to.readers.in.the.sector.on.approx..100.pages..ACROSS.also.provides.political,.economic,.and.legal.information..All.this.is.rounded.off.by.country.profiles,.company.and.personal.portraits,.information.on.trends.in.retail..and.catering.sectors,.consumer.issues,..
and.commentaries.from.leading.experts..The.magazine.is.published.entirely.in..English,.with.an.exclusive.circulation.of.18,000.copies.in.42.European.countries,.reaching.the.industry’s.decision.makers..directly.
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16 ACROSS 4 | 2014
COVERPOINT FOODSERVICE CONSULTANTSThe barn, 11 waltham court milley lane, hare hatch, Reading RG10 9aa, United kingdom Phone: +44 18 940 5266fax: +44 118 940 5277email: [email protected]
coverpoint are an international foodservice consultancy. since 1993 we have been creating for our clients, outstanding Retail and shopping centre food experiences. from fast food and innovative foodcourts to the latest casual dining clusters, we provide developers, landlords, shopping centre managers and owners with the best advice on ‘how to do food’. we carry out feasibility studies, market analysis, capacity planning and foodservice spatial design. we bring all these skills together as part of your Team to ensure that your food & beverage experience is perfectly matched to your guest’s needs. we do food! call us to find out how we can help you.
CINEPLExx INTERNATIONALmag. christof Papousek Geschäftsführer|cfo constantin film-holding Gmbh cineplexx kinobetriebe Gmbh siebensterngasse 37, a-1070 wien, austria
cineplexx kinobetriebe Gmbh was founded in 1993 as a 100% subsidiary of constantin film-holding Gmbh which belongs to the austrian family langhammer. cineplexx emerged in the transition phase during the 1990s when tradi tional cinemas were closed and multiplex cinemas entered the market. since 2008 the group has bundled its international business activities under cineplexx international ltd. it runs 35 cinemas with 235 screens in total, across austria, croatia, serbia, montenegro and northern italy. Total sales reached 120 mio. euros in 2011 with about 1.100 employees.
CHRISTMASWORLDmesse frankfurt exhibition Gmbhludwig-erhard-anlage 1d-60327 frankfurt am main, GermanyPhone: +49 69 75 75 - 0email: christmasworld@messefrankfurt.comwww.christmasworld.messefrankfurt.com
christmasworld – seasonal decoration at its best – is the leading international trade fair for festive decorations. exhibitors from all over the world present the latest trends and products for all festive occasions of the year – including innovative concepts for decorating large spaces and outdoor areas, such as shopping centres – in frankfurt am main from 30 January to 3 february 2015.
CBRE GLOBAL INVESTORSschiphol boulevard 281, G-tower, 8th floor 1118 bh schiphol, The netherlands Phone: +31 20 202 2200www.cbreglobalinvestors.com
cbRe Global investors is a global real estate investment management firm with eUR 72 billion in assets under management*. The company sponsors investment programs across the risk/return spectrum for investors worldwide. The cbRe Global investors emea platform, with eUR 28,2 billion of assets under management* is one of the largest and most diversified real estate investment management business. The platform has offices in 15 countries, managing investments in 17 countries across europe. for more information please visit www.cbreglobalinvstors.com *As.of.30.June.2012
ATP ARCHITECTS ENGINEERS innsbruck, Vienna, munich, frankfurt, zurich, budapest, zagreb, moscowheiliggeiststr. 16, a-6020 innsbruck, austria Phone: +43 512 5370 - 0 fax: +43 512 5370 - 1100 email: [email protected] www.atp.ag
aTP architects engineers is one of europe’s largest and most renowned inte grated design offices. it employs 450 people in 8 subsidiaries in Germany, austria, switzerland and cee. as specialists in retail and enter tainment buildings, aTP aims to create inno-vative and intelligent solutions of sustainable quality. integrated design has been the company’s core competence for 35 years. experienced inter disciplinary teams plan simul taneously in virtual models. They handle all architec tural design and engineering tasks of a construction project.
BLACHERE ILLUMINATIONzone industrielle, f-84400 apt, france Phone: +33 4 90 74 20 95 fax: +33 4 90 74 14 63 email: [email protected] www.blachere-illumination.com
blachere illumination is a company specializing in the illumination of towns, shopping centers and private places for the end of year festivities. it offers a wide range of led light decorations: luminous garlands, curtain lights, street decorations … it promotes future technology of energy efficiency and places the highest importance on research and development. with forty years of experience on lighting markets, we have worked in the widest possible range of environments, for both urban space and private setting.
BRANDDESIGNERS Rotenturmstrasse 17/10-12a-1010 Vienna, austriaPhone: +43 1 533 32 60 55fax: +43 1 533 32 60 10email: [email protected] www.brand-designers.com
design is our passion! branddesigners is a company, which is specialized in shopping center refurbishment and retail design for more than 12 years. The key to each of our projects is a unique and creative idea: we believe that every shopping center must be a distinctive, recognizable landmark. we use cutting-edge computer technologies to create our visions and analyse each concept – using eye-tracking to evaluate both the current state, as well as the after-effects of our implementations. Together with a team of experts, we develop tailor-made solutions for our customers and handle the development of the project from the initial idea through to its completion.
COGEST RETAIL SRLvia G.b. Pergolesi20124 milano, italyPhone: +39 02 91278 / 02 49585 fax: +39 02 61290784www.cogestretail.com
cogest Retail is a consultancy company specialized in leasing and management of shopping centers, independent retail projects and multi-use complexes. The company has 20 years of experience and a retail portfolio of over 45 projects in italy under its belt. cogest assists investors and participates in all of the stages of shopping center development: geo-marke - ting, market research, planning phase, concept studies, tenant mix, leasing and public relations. Tower center Rijeka is currently the only project outside italy, cogest Retail aim to significantly expand activities in croatia and across the south east europe region. with a team of 150 highly skilled professionals, congest offers valuable assistance with acqui sition, construction, development, commercialization and management of real estate.
4 | 2014 ACROSS 17
EHL IMMOBILIEN GMBHPrinz-eugen-strasse 8-10, a-1040 Vienna, austria Phone: +43 1 512 76 90 fax: +43 1 512 76 90 - 890 email: [email protected]
ehl Real estate Group is one of the leading real estate service providers in austria and the market leader in the fields of commercial and residential real estate as well as investment properties. its business activities range from property marketing, property valuation, asset and portfolio management, center management to market research and investment consultancy.
EHI RETAIL INSTITUTE spichernstr. 55 d-50672 köln, GermanyPhone: +49 221 579 93 -32fax: +43 221 579 93 [email protected]
ehi is the scientific institute of the German retail industry. The members of ehi include German and international retail companies and their industry associations, manufac-turers of consumer and investment goods and various service providers for retail like real estate developers and shopping-center management firms. we research topics relevant to the future of retailing, organize conferences and working groups, operate our own publishing house (e.g. The ehi shopping-center Report), and are partners to messe düsseldorf in staging the euroshop, the world's biggest trade fair of investment goods for retail business.
GERMAN COUNCIL OF SHOPPING CENTERS E. V.bahnhofstrasse 29 d-71638 ludwigsburg, Germany Phone: +49 7141 38 80 - 83 fax: +49 7141 38 80 - 84 email: [email protected] www.gcsc.de
The German council of shopping centers, Gcsc, represents the interests of over 770 member companies in the shopping center and commercial real estate industry, including operators and developers, trade representatives, service providers, consultants, investors, and other companies.
FOUNDATION RECRUITMENT UK LTD33 cavendish squarew1G 0Pw, United kingdomPhone: +44 207 484 5086email: [email protected]
foundation Recruitment is europe’s leading, professional recruitment expert within the field of international shopping centre management. we are the only real estate recruitment business with a specialist team entirely dedicated to the shopping center sector. our passion, commitment and cross border reach enables us to offer our global clients unrivalled knowledge, understanding and insight. our extensive network provides us with considerable access to the worlds most talented shopping center professionals.working across both enclosed and open air assets, our activities sit at the very heart of the modern day, dynamic shopping centre arena. our instructions and areas of professional expertise range across on site mall management, leasing, asset management and development.
GLOBAL REAL ESTATE INSTITUTE (GRI)10 melton street, london, nw1 2eb, UkPhone: +44 20 7121 5060fax: +44 20 7388 8740email: [email protected]
The GRi is a global club of senior real estate investors, developers and lenders. its mission is to help its members build personal relationships and work together in creating rewarding opportunities. The GRi runs its activities through a collection of annual meetings focussed on different regions of the world since 1998. if building close relationships with the driving elite of the real estate industry at the most senior levels can be useful, we welcome you to join us.
GFK GEOMARKETING GMBHwerner-von-siemens-str. 9, building 6508d-76646 bruchsal, GermanyPhone: +49 7251 9295 100fax: +49 7251 9295 290email: [email protected]
Gfk Geomarketing is one of europe’s largest providers of geomarketing services and products. our business areas include: consultancy and research expertise, market data, digital maps, RegioGraph. Gfk Geomarketing is a subsidiary of Gfk, one of the world’s largest and most renowned market research companies. drawing on this international network of wide-ranging resources and expertise, Gfk Geomarketing promotes business success and “growth from knowledge”.
ECE PROjEKTMANAGEMENT G.M.B.H. & CO. KGheegbarg 30, d-22391 hamburg, Germany Phone: +49 40 60606 - 0 fax: +49 40 60606 - 6230email: [email protected]
ece develops plans, builds, leases out, and manages shopping centers since 1965 and is active in 17 countries. The company is european market leader with 189 managed shopping centers. on an overall sales area of 6 million m2, about 17,500 retail businesses generate 21 billion euros in annual sales. another 14 shopping centers are currently under construction or planned throughout europe.
FIRST CHRISTMAS By ROSENAU GMBHblankeneser bahnhofstr. 7, d-22587 hamburg, Germany Phone: +49 (0)40 86 64 875 - 0 fax: +49 (0)40 86 64 875 - 60 email: [email protected] www.rosenau.com
first christmas by RosenaU Gmbh one of europe’s leading suppliers of christmas decorations. we offer a full service including design, production and installation of top quality modern and traditional decorations. our expertise and products are being implemented across the continent and in the near east.
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KLEPIEERE21 avenue kléber, f-75116 Paris, francePhone: + 33 1 40 67 57 40fax: + 33 1 40 67 55 62wwww.klepierre.com
a leading shopping center property company in europe, klépierre combines development, rental, property and asset management skills.its portfolio is valued at 16.2 billion euros on June 30, 2013 and essentially comprises large shopping centers in 13 countries of continental europe.klépierre holds a controlling stake in steen & strøm (56.1%), scandinavia’s number one shopping center owner and manager. The largest shareholders are simon Property Group (28.9%), world leader in the shopping center industry, and bnP Paribas (21.9%). klépierre is a french ReiT (siic) listed on euronext ParisTm and is included into the sbf 80, ePRa euro zone and GPR 250 indexes.
KUNDöRFER CONSULTING GMBHfrankenweg 5, a-8051 Thal-Graz, austria Phone: +43 316 / 581 822 fax: +43 316 / 570 550 email: [email protected] www.kundoerfer-consulting.com
building upon years of international experience in retail and extensive location expertise for many cee/see countries as well as austria and Germany, kundörfer consulting advises its customers on all retail expansion and retail property questions. Targeting retailers and companies active in the real estate market, kundörfer consulting offers both solutions for strategic issues and their implementation.
MAPICThe international market for retail real estatePhone: +33 1 79 71 90 00www.mapic.com
maPic (www.mapic.com/en/the-event/history/) is the key meeting point for 2,430 retailers looking for partners, and 2,300 property developers and owners looking for retailers to enhance their sites. maPic delivers 3 days of tailored meetings, expert-led conferences and a premium exhibition for industry leaders targeting all types of retail property and brings together 8,200+ participants from 69 countries.The 20th edition will take place at the Palais des festival of cannes, france, from 19-21 november 2014.
MEC METRO-ECECENTERMANAGEMENT GMBH & CO KGam albertussee 1d-40549 düsseldorf, GermanyPhone: +49 211 30153-0fax: +49 211 30153-450email: [email protected]
mec meTRo-ece centermanagement Gmbh & co. kG is a joint venture of meTRo GRoUP and ece. mec is Germany’s leading centre management company for retail warehouse oriented shopping centres. it is responsible for managing, operating, leas-ing, developing and marketing of currently 41 shopping centres in Germany. at the cen-tres, with approximately 820 tenants generate a yearly turnover of around € 2.7 billion over an area of more than 1 million sqm. around 150 employees work for mec, whose company headquarters are in düsseldorf.
MESSE FRANKFURTmesse frankfurt exhibition Gmbhludwig-erhard-anlage 1d-60327 frankfurt am main, GermanyPhone: +49 69 75 75 - 0email: [email protected]
messe frankfurt is one of the world's leading trade fair organisers. 578,000 square metres of exhibition ground are currently home to ten exhibition halls and two adjacent congress centres. events “made by messe frankfurt” take place at more than 30 locations around the globe and cover the fields of consumer goods & leisure, textiles & textile technologies, technology & production, mobility & infrastructure and entertainment, media & creation.
MFImfi management für immobilien aGbamlerstrasse 1, d-45141 essen, GermanyPhone: +49 201 820 810fax: +49 201 820 81 11email: [email protected]
The mfi management fuer immobilien aG (mfi) was founded in 1987 and is the secondlargest German shopping centre company. since 2012, mfi partners with Unibail-Rodamco (Paris), europe’s largest listed real estate company. with the joint partnership mfi/Unibail-Rodamco pursue a structured growth of their portfolio and aim specifically at expanding their market presence in Germany. with over 500 employees in Germany mfi/Unibail-Rodamco covers the entire value chain from project development, planning and construction services up to long-term facility and asset management as well as portfolio construction. additional services include refurbishment and project manage-ment. The essen-based company currently operates on 26 shopping centers, with six ofthem in its own portfolio. in addition, mfi/Unibail-Rodamco has three shopping centerprojects in development, namely in osnabrueck, Recklinghausen and moenchenglad-bach. These owned asset projects focus on creating a unique customer experience and innovative customer service measures. overall, the mfi aG manages approximately 3,000 retail leases.
ICSC EUROPE29 Queen anne’s Gate, london sw1h 9bU, Uk Phone: +44 20 7976 - 3100 fax: +44 20 7976 - 3101 email: [email protected] www.icsc.org
The international council of shopping centers is the global not-for-profit trade association for the shopping centre industry with over 60,000 members from more than 80 countries worldwide. our members include owners / developers, Retailers, investors, architects, shopping centre managers, Retail consultants and other real estate professionals.
IMMOFINANZ GROUP wienerbergstraße 11, a-1100 Vienna, austria Phone: +43 1 88 090email: [email protected] www.immofinanz.com
The immofinanz Group is one of the five largest listed property companies in europe. The company comprises 1,678 standing investments with a carrying amount of approx. eUR 8.5 billion. The core business of immofinanz covers the acquisition and management of investment properties, the realisation of development projects and the sale of objects in the retail, office, logistics and residential segments. more: www.immofinanz.com
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NEINVERfrance, Germany, italy, Poland, Portugal, spaincalle francisca delgado nº 115º Planta (núcleo 2), 28108, madridPhone +34 91 490 22 00fax +34 91 490 23 [email protected]
neinVeR is a leading international property company that focuses its business on property development, asset management and fund management. with more than 40 years of experience, neinVeR has reinforced its position in the european market by managing 15 outlet centres with a total of 311,600 sq m of Gla, under the facToRy and The style outlets brands. neinVeR is now the second-largest operator of outlet centers in europe (2012 icsc ranking) and the company has being recognized by main inter-national brands as the second outlet manager to trust in (foc Performance Report europe 2013). neinVeR manages the iRUs european Retail Property fund and nearly 500,000 sq m of retail space, 2,000 shops and 900 of the finest brands in spain, france, italy, Germany, Portugal and Poland.
PAyLIFE BANK GMBH marxergasse 1b, a-1030 Vienna, austriaPhone +43 1 717 01 - 0fax: +43 1 717 01 - 3000 www.paylife.at
Paylife is the market leader and number one choice for cashless payments in austria. Paylife is synonymous with convenient, simple and secure card payments as well as customer focus and innovation. whether credit- and prepaid card, Pos Terminal, e-commerce or Quick, the electronic Purse, Paylife offers individual and comprehensive products to meet all needs. with PayUnity, Paylife is the only provider for e-commerce and Pos payments from one source. in 11 countries Paylife offers its customers total solutions for all branches. Paylife. bringing life to your card.
REDEVCO B.V.wibautstraat 2241097 dn amsterdam, The netherlandsPhone: +31 20 599 6262fax: +31 20 599 6263email: [email protected]: @Redevcowww.redevco.com
Redevco is an independent, pan-european real estate investment management company specialised in retail property. The more than 500 assets under management are spread across the strongest retail concentrations in the Uk, france, belgium, the netherlands, Germany, spain, Portugal, switzerland and austria. at present we offer real estate solutions for more than 1,000 retailers.
REINHARD WINIWARTER WINERyobere hauptstrasse 19, a-3552 stratzing/kremsbusiness adress: Rotenturmstrasse 17, a-1010 Vienna, austriaPhone: +43 1 533 32 60fax: +43 1 533 32 60 10email: [email protected] www.rw-winery.com
we like authentic, pure, and simple things. This awareness flows into all our wines. in a world that is increasingly complex, we stand for an emphasis on fine, regional characteristics, as well as simple and concise product design.Grüner Veltliner is our most important variety and it is our main focus. zweigelt and chardonnay round out our portfolio.
SMA STANDORT MARKETING AGENTUR GMBHRotenturmstrasse 17, a-1010 Vienna, austria Phone: +43 1 533 32 60 - 0 fax: +43 1 533 32 60 - 10 email: [email protected] www.sma-austria.at
we specialize in fulfilling the marketing and communication needs of retail and commercial real estate. our scope comprises pro j ect development services as well as drafting and implementation of marketing and communi cations for operational properties. our goal is to turn retail locations into strong and appealing regional brands.
SES SPAR EUROPEAN SHOPPING CENTERS GMBHsöllheimer strasse 4, a-5020 salzburg, austria Phone: +43 662 4471 0 fax: +43 662 4471 7199 email: [email protected] www.ses-european.com
ses – no. 1 in austria and slovenia – is specialized in developing, constructing and managing first-class retail real estate at an international level. The company provides complete service from development to center management in central, southern and eastern europe. shopping malls managed by ses are among the very best the industry has to offer.
MK ILLUMINATION Trientlgasse 70, a-6020 innsbruck, austria Phone: +43 512 20 24 30 - 0 fax: +43 512 20 24 33 email: [email protected] www.mk-shoppingcenter.com
at mk illumination we aspire to create exceptional conceptual festive lighting for our partners. our commitment to design, innovation, technical excellence and sustainable solutions coupled with our local knowledge and a global outlook allows us to create tailored, specially handcrafted illumination to suit our client’s exact wishes and thus strengthen their brand and image. in keeping with its philosophy of being a regional company with a global reach, mk illumination maintains independently run subsidiaries in 28 countries, allowing each business to benefit from local knowledge, customs and networking. The company provides a comprehensive service in three main areas: Retail Real estate, leisure and Public spaces. we have a passion for enlightening your vision! for further information visit us at: www.mk-illumination.com
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TRIGRANIT MANAGEMENT CORPORATIONVáci út 3.1062 budapest, hungaryPhone: +36 1 374 6516fax: +36 1 374 6571email: [email protected]
ZUMTOBEL LICHT GMBHdonau-city-strasse 1, a-1220 wien, austria Phone: +43 1 258 26 01 - 0 fax: +43 1 258 26 01 - 982 845 email: [email protected] www.zumtobel.at
zumtobel, a company of the zumtobel Group, is an internationally leading supplier of integral lighting solutions for professional indoor and outdoor building lighting applications. for more than 50 years, zumtobel has been developing innovative, custom lighting solutions that meet extremely exacting requirements in terms of ergonomics, economic efficiency and environmental compatibility and also deliver aesthetic added value.
SONAE SIERRAlugar do espido,Via norte 4471-909 maia, Portugal Phone: +351 22 948 7522 email: [email protected] www.sonaesierra.com
sonae sierra is the international shopping centre specialist that is passionate about bringing innovation and excitement to the shopping industry. our integrated approach to the shopping center business includes the ownership, development and management activities. This strategy allowed us to develop a recognized unique know-how which we use for our shopping centres, as well as third-parties projects and operating shopping centers.
TriGranit management corporation (TGm) is a 20 year old real estate consultancy company that is offering a wide scope of services that range from asset management services, retail property management, retail leasing, marketing, commercialisation, commercial property management, facilities management, health leisure & hospitality to detailed financials, adapted to fit the individual needs of our clients. TGm presently operates a network of 8 central and east european (cee) offices and in recent months has expanded to its operations to encompass the Romanian, bulgarian, macedonian, armenian and chinese markets, where it spearheads new and exciting ventures in the property sector. TGm operates in 14 different countries globally including the middle-east and china. The blend of a portfolio with almost 1 000 000 sqm of retail property under management and leasing, TGm has instructions on over €3 billion of assets in 29 current retail, office and leisure projects. TGm welcomes over 60 million visitors every year, supporting the success of more than 1,500 international tenants within the leasing portfolio.
UNION INVESTMENT REAL ESTATE GMBHValentinskamp 70 / emPoRiod-20355 hamburg, GermanyPhone: +49 40 34 919-0fax: +49 40 34 919-4191 email: [email protected]/realestate
Union investment is a leading international investment company specializing in open-ended real estate funds for private and institutional investors. Union investment has assets under management of some €23 billion in fourteen real estate funds. active in the property investment business for 48 years, Union investment operates today in 23 countries around the world. in addition to office space and business parks, the hamburg-based company is investing in business hotels, logistics properties and shopping centers. Union investment entered the retail sector at an early stage, allowing the company to secure a strategic position in this growing area. The result is a high-quality portfolio presently comprising 37 shopping centers in Germany, austria, sweden, belgium, france, Poland, italy, spain and Turkey, with a current market value of some €6 billion.
ULI – URBAN LAND INSTITUTEGERMANy/AUSTRIA/SWITZERLANDeuropa-allee 22d-60327 frankfurt am main, GermanyPhone: +49 696 062 7181fax: +49 69 768 067 9181email: [email protected]
Uli – the Urban land institute – is a non-profit research and education organisation supported by its members. founded in chicago in 1936, the institute now has over 30,000 members in 95 countries worldwide, representing the entire spectrum of land use and real estate development disciplines – private and public. in europe, we have over 3,000 members supported by a regional office in london and a branch in frankfurt for the German, austrian and suisse market. Uli brings together leaders with a common commitment to improving professional standards, seeking the best use of urban land and following excellent practices. Uli is a think tank, sharing knowledge through discussion forums, research and publications. by building and sustaining a diverse network of local experts, we are able to address the current and future challenges facing europe’s cities.
TIAA HENDERSON REAL ESTATE 201 bishopsgate, london ec2m 3bn Phone: +44 20 3727 8000 fax: +44 20 3727 8001email: [email protected]
Tiaa henderson Real estate (Th Real estate) is an established investment management company with specialisation in real estate equity and debt investing worldwide. as one of the largest real estate managers in the world, it has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. with a focus on the retail, office, logistics, debt and multi-family housing sectors, launched in april 2014, the company has a dedicated global presence with offices across asia and europe, managing c.£16bn of real estate assets across c.50 funds and mandates. its alliance with Tiaa-cRef in north america increases its global aUm to c.£51bn.All.figures.as.at.31.December.2013.
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