PAMERA CORNERSTONE wins new contract for Nauener Karree (DE)

On behalf of an investor, PAMERA Cornerstone Real Estate Advisers has acquired the Nauener Karree in the district town of Nauen near Berlin at a forced auction sale.
Pamera Cornerstone has been awarded the asset management contract for the ensemble of buildings located at Dammstraße 7-9 / Oranienburger Straße by the new owner.
Built in 1994, the Nauener Karree is a local retail center in the heart of the town and offers around 5,300 m² (about 57,048 ft²) of retail space. Its tenants include KIK, Netto, Rossmann and Ernstings Family. In addition, the property has 2,200 m² (about 23,680 ft²) of office and 460 m² (about 4,951 ft²) of residential space on the upper floors of the buildings. The property, which stands on land measuring almost 15,000 m² (about 161,458 ft²), also has 141 car parking spaces as well as an underground car park with parking for another 165 cars.
Thanks to its proximity to the A 2, A 10 and A 24 motorways and to the B 5 and B 273 trunk roads, the Nauener Karree has excellent transport links to Berlin and the surrounding regions of Brandenburg.
There are plans to revitalize the retail structure in the future. To this end, it will be necessary to make significant changes to the building structure. Even before any work has started, the lease with Netto has been extended by 15 years. Other lease renewals are being negotiated. There have already been initial discussions with potential users for one vacant building offering around 2,000 m² (about 21,527 ft²) of retail space. At the same time, the existing office leases are in need of optimization.
Currently there is further development potential both within the existing buildings and elsewhere on the land, as well as matching demand from tenants. PAMERA Cornerstone will investigate and realize this additional potential.
Source: PAMERA Cornerstone