Branicks Group AG (Branicks) announced the disposal of a property in downtown Leverkusen. Extending over about 20,400m2 of fully occupied retail space, the premises are part of the former Kaufhof area, a high-street department store in the inner city. It is currently let to Dortmunder TEH Textilhandel GmbH (Modehaus aachener clothing store). The buyer is a subsidiary of Stadtteilentwicklungs- und Projektgesellschaft Leverkusen mbH, a development company owned by the City of Leverkusen.
“The transaction is yet another step in the implementation of our ‘Performance 2024’ action plan, showing how we, even in a tough environment, identify and exploit opportunities one at a time as they present themselves on the market. By disposing of this retail property, we also keep honing our strategic focus on the logistics and office asset classes,” said Sonja Warntges, CEO of Branicks.
Branicks had acquired the three-storey building at Wiesdorfer Platz 82 with its retail area of about 14,500m2 and about 5,900m2 of storage space for its Commercial Portfolio in 2007.
Image source - Pexels.
