Warburg-HIH Invest Real Estate has acquired a fully occupied local convenience centre in Bielefeld, Germany for its open-ended special AIF “Warburg-HIH Perspektive Einzelhandel: Fokus Nahversorgung.” Redeveloped in 2012, the Nordpark-Center has a gross lettable area of 7,158 m² and 147 parking spots. 2,005 m² of the property is let to REWE through 2030. Other tenants include the drugstore chain “dm” and a “denn’s” organic supermarket. The purchase price has not been disclosed.
“The listed property is surrounded by middle-class residential areas and serves as one of the main non-discretionary retail venues in the area,” said Jens Nagelsmeier, Head of Retail Transaction at Warburg-HIH Invest. “Bielefeld lies inside one of Germany’s fastest-growing economic regions. Aside from being home to a renowned university, the city is also known for its manufacturing sector, with the food and beverage industry, print and textile industries, as well as by the building industry and the mechanical engineering sector particularly prominent.”