At the end of 2010, shopping center investor Deutsche EuroShop will acquire a stake of around 9% in the Main-Taunus-Zentrum shopping center (MTZ) near Frankfurt from an institutional investor for some 17.2 million. Deutsche EuroShop's shareholding in the center will consequently increase to 52%.
Once ongoing expansion work has been finalized in autumn 2011, MTZ will present some 180 specialist shops of well-known retailers (e.g. Ansons, Breuninger, H&M, Kaufhof, Karstadt, Media Markt, Peek & Cloppenburg, Zara) on a retail space of around 91,000 m².
Following completion of expansion work to its northern side, the center will offer its visitors more than 4,500 car parking spaces.
"The pre-letting level already stands at around 70%, and - in keeping with all our shopping centers - we expect 100% occupancy by the time the extension is opened," Böge added.
MTZ was one of the first ever shopping centers to be opened in Germany in 1964, and was modernized and expanded from 2001 to 2004. It is located in Sulzbach on the western outskirts of Frankfurt, directly on the A66 (motorway between Frankfurt and Wiesbaden). Managed by ECE, the European market leader in the shopping center segment, since 1998, the shopping center has a catchment area encompassing a population of 2.2 million. Up to 40,000 customers visit MTZ each day.
Source: Deutsche EuroShop