Rodamco Europe has purchased the unit shops in Â´Croix-DampierreÂ´ shopping center in Chalons en Champagne, France from SCI Croix-Dampierre (controlled by ImmobiliÃ¨re Carrefour), for a total amount of â¬ 30 million.
Rodamco Europe will take over the retail management of the shopping center. With this acquisition, the investment portfolio of Rodamco Europe in France amounts
to â¬ 1.2 billion, of which 95% are retail properties.
Rodamco Europe has acquired 11,133 mÂ² GLA in the shopping center Â´Croix-DampierreÂ´, divided over 56 shops and 3 medium-size units, McDonalds, Devianne and Feu Vert, which are located outside on the parking premises. The 10,507mÂ² hypermarket, 2 petrol stations and the 2,200 parking spaces remain in SCI Croix Dampierreâs ownership. Rodamco Europe has together with SCI Croix Dampierre, a 100% stake in the owners association.
Â´Croix-DampierreÂ´ shopping center opened in 1973 and was renovated in 1991. It is an urban shopping center with a dominant position in its catchment area. It has a reversionary potential of about 40%, thus Rodamco Europe expects a significant increase of the rents through rent renewals and implementation of turnover rents in the medium term.
Source: Rodamco Europe