Shopping Center neustädter in Giessen: H&M extends lease, four new leases

September 27, 2023

H&M extends lease for approx. 2,600 square meters of rental space ahead of schedule
New leases with Kayma, Giovanni L., Dawat and Esposito for a total of more than 550 square meters of rental space
Further leases for approx. 2,000 square meters expected in the near future
Interior modernization measures to be completed in the second quarter of 2022

Giessen, April 8, 2022. Great news from the shopping center neustädter in downtown Giessen: H&M has prematurely extended its lease for approximately 2,600 square meters of rental space. In addition, new leases were signed with the Giovanni L. ice cream parlor, the Kayma oriental delicatessen, the Esposito pizza and pasta restaurant, and the Indian gastro concept Dawat for a total rental area of more than 550 square meters. The modernization and conversion measures in the shopping center, which comprises around 32,000 square meters of leasable space, started in 2019 and carried out during ongoing operations are also progressing as planned and are expected to be completed before the end of the first half of 2022. A total of over 30 million euros will be invested in the modernization.

“The early lease renewal of H&M proves the confidence also of large chain stores in the shopping center neustädter,” said Guido Beddig, Managing Director at Corestate and representative of the owners. “In addition, new leases for a total of more than 550 square meters of rental space have been concluded with the tenants Giovanni L., Kayma, Esposito and Dawat. The current leasing successes demonstrate the potential that retailers and restaurateurs see in the neustädter location and future concept in the city center of the university town of Giessen.”

“The conversion and modernization measures are approaching completion with great strides. We want to be finished with the construction measures in the interior of the shopping center in the second quarter of 2022 and also open the new food court The center is already presenting itself excellently,” adds Fabiola Peiniger, Center Manager at Girlan Immobilien and responsible for the neustädter shopping center. “For the remaining vacant rental space, we are also in advanced discussions with various concepts in many areas and expect to conclude leases for approximately 2,000 square meters of rental space in the near future.”

Tenants at the Shopping Center neustädter in Giessen’s city center include H&M, Media Markt, Müller Drogerie, Woolworth, Tegut, Penny, FitX, Kult, Tally Weijl, Vero Moda, Jack & Jones, Bastler Zentrale, Apollo Optik, Reno, Shoes & More and numerous gastronomic offerings. The advantages of the only inner-city shopping center in Giessen with a leasable area of around 32,000 square meters include excellent transport links, more than 1,000 parking spaces in the adjoining multi-storey parking lot, the large catchment area of around 870,000 inhabitants and the above-average proportion of young people in the university town.

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