KGAL acquires retail park in Erding, Munich for institutional real estate fund (DE)

The KGAL Group has purchased Erding retail park for an institutional real estate fund with a forward-looking mixed-use concept. The heavily frequented retail park lies within the Munich catchment area and was opened in 2008. It offers a wide range of services and products over a total of 33,000 m² of rental space.
The mixed-use real estate is located close to Munich Airport and benefits from its long-standing positive positioning within the local retail sector as well as its attractiveness as a recreational and tourism center. With retail outlets accounting for around 80 % of the area in the form of specialist retailers and other businesses, a total rental space of approximately 33,000 m² and a large car park with more than 900 parking places, Erding retail park provides all the comforts of one-stop shopping.
A major advantage is the diverse tenant mix, comprising established retailers such as Hagebau, Media Markt, dm, Deichmann and Norma. There is also a body + soul fitness studio in the retail park. The complex has an occupancy rate of 99 %. Its prominent visual presence and excellent transport links ensure that it enjoys a high level of customer footfall.
“Together with our investors, we are focusing on locations that offer potential for the future. Erding ranks among the most attractive and successful regions in Germany, with a growth in its population forecast, an extremely low unemployment rate of 2.1 % and a very high level of purchasing power,” says André Zücker, Head of Real Estate at KGAL Investment Management GmbH & Co. KG. The real estate is part of the institutional real estate fund, along with investments in office real estate, commercial buildings and retail parks. This latest acquisition in Erding represents a continuation of KGAL’s successful strategy involving retail parks in Germany and abroad.
Source: KGAL