Shopping centre operator ECE has taken over the management and leasing of Erlangen Arcaden shopping centre in Germany. The company will operate the centre on behalf of real estate investment manager Nuveen Real Estate who holds the asset for a fund. ECE will assume the management from the current operator Unibail-Rodamco-Westfield on July 1, 2019.
Erlangen Arcaden, which first opened in 2007, accommodates 90 shops on a sales area covering approximately 30,000m². It is located directly at the railway station in the city centre of Erlangen, a city in northern Bavaria boasting 110,000 inhabitants. Anchor tenants include Saturn, Thalia, and tegut as well as other popular brands such as dm, H&M, Levi’s, O’Bag, Soestrene Grene, Superdry, and Vorwerk. Nuveen Real Estate extensively modernized the centre in 2017 and 2018.
Along with the re-awarding of the management contract for Erlangen Arcaden, Nuveen Real Estate also extended the management contract with ECE for Pep shopping centre in Munich by five years.
“We are very pleased that we were able to extend the partnership with Nuveen Real Estate following the repositioning of PEP in Munich and that we were tasked with the management and enhancement of Erlangen Arcaden,” said Henrie W. Kotter, Chief Investment Officer of ECE. “Together with the investment manager and the tenants, we will implement new and creative ideas for the property.”
