We have acquired a well-known retail building in Aachen for our own portfolio. It is a high-traffic location, as the building on Adalbertstraße—Aachen’s central shopping district—is fully leased to the apparel retailer H&M.
Aachen Grundvermögen is the seller of the property, which has a leasable area of over 5,000 m². The acquisition is part of our portfolio strategy, through which we are building a growing real estate portfolio of our own in addition to our core business as a project developer.
The building, constructed in 1953 with a facade renovated in 2015, is supplied with district heating. The attractive retail space spans three floors, including the basement. The leasable area also includes approximately 600 square meters of office and technical space. The lease agreement with H&M is a long-term contract with multiple renewal options.
Adalbertstraße is the main shopping street in Aachen’s city center. As a wide pedestrian zone with a variety of shops, restaurants, and department stores, it is a magnet for the entire region, attracting visitors from Belgium and the Netherlands as well.