Hines has signed a long-term lease with food wholesaler Kaufland for the Mira shopping centre in northern Munich, Bavaria. Kaufland will occupy over 6,000m² of space on the first floor of the centre. The necessary construction buildout is already underway. The opening is scheduled for the end of 2021. Hines has now taken an important step in the realignment of the shopping centre – with other tenants including Aldi, C&A, H&M, New Yorker and Woolworth.
Christian Meister, Managing Director, Hines, said: “We are pleased with the successful new lease, which will significantly enhance Mira's profile as a local supply-oriented district centre. With Kaufland, we welcome another renowned tenant that fits perfectly into the attractive branch and tenant mix of the property. Moreover, Kaufland is crisis-resistant and long-term oriented and will ensure a high frequency in the Mira shopping centre. This leasing success in a challenging market environment for retail properties illustrates the high quality and attractiveness of the Mira shopping centre. We are therefore still on track to successfully complete the repositioning toward a lively district centre.”
Hines acquired the property on Schleißheimer Strasse, which was completed in 2008, for a German real estate special fund in 2017. Since then, Mira has been developed into a district centre with local amenities and a broad range of services. As a food wholesaler, Kaufland has contributed its expertise to the repositioning of the existing property on a partnership basis. In addition, ideas and suggestions for improvement were developed in dialogue with tenants and residents. This has already resulted in the creation of a large lounge area on the first basement floor, which invites guests to linger in the centre and promotes joint activities. The facade and entrance areas were also modernized. Special emphasis was placed on the topic of sustainability during the modernization. For example, the Mira is certified according to the DGNB Gold Standard and has the largest facility of all shopping centres in Europe with thermal groundwater utilization for cooling the rooms.
