Giessen shopping center “neustädter” is made fit for the future

September 27, 2023

Second entrance completed and opened
Extensions and new contracts for approx. 5,000 square meters of rental space
Attractive interior design with innovative design and lighting concept as well as
new floor
Food court is redesigned and enlarged to 180 seats
New tenants Schlaraffenland, Samsung, Bargello and Tea Motion to start mid-2021

Giessen / Frankfurt / Hamburg, April 20, 2021. The modernization of the Galerie Neustädter Tor shopping center in Giessen, which will operate under the name “neustädter” in the future, has reached the next major milestone. The second entrance in the direction of Oswaldsgarten was completed and opened for visitors. The replacement of the ten escalators in the center was also completed on schedule in November. The extensive modernization of the mall with the implementation of an attractive design and lighting concept, renewal of the flooring and a considerable improvement in the quality of stay is also progressing rapidly. Work in the Mall West area, in addition to the new entrance, is already nearly complete. The project is being implemented by Corestate Capital Group as asset manager and Girlan Immobilien as landlord, center manager and project manager for the center’s conversion measures.

“The new West Entrance is a real highlight and important for optimizing customer frequency in the center. Other results of the extensive construction and modernization measures on the way to the neustädter are already clearly visible and give an idea of how good the overall result will look,” says Guido Beddig, Managing Director at Corestate and representative of the owners. “All in all, we want to be ready by the end of 2021.”

A great deal of progress was also made on the leasing side. The new tenants Schlaraffenland, Samsung and Bargello as well as TeaMotion will open their stores in the first half of 2021. The tenant Schlaraffenland will implement a trendy gastronomy concept on around 400 square meters at the new West Entrance. In addition, despite challenging general conditions, lease extensions were negotiated with existing tenants for a total area of more than approx. 4,500 square meters in 2020. In particular, numerous tenants of the food court, which will also be modernized and expanded in 2021, have extended their leases on a long-term basis. In the coming months, work will continue on upgrading the floors and ceilings in other areas of the mall and enlarging and redesigning the food court.

Martin Mörl, Managing Director at Girlan Immobilien, adds: “The multitude of measures will make the neustädter fit for the future and more attractive for tenants and visitors. The food court in the center of the mall, which will be larger in the future and equipped with significantly more seating, is now conveniently accessible through two entrances. New operators will join the existing gastronomic offerings. The food court will be a meeting place for all day and all ages.”

“We are delighted about the great progress in construction and about further new tenants. The fact that, in addition, numerous existing tenants and, in particular, many of the gastro tenants have extended their leases in neustädter ahead of schedule and on a long-term basis is a clear commitment to the center and to this location in the city center of the university town of Giessen,” says a delighted Fabiola Peiniger, Girlan Immobilien’s center manager for the shopping center for the past six years. “For the rental space still available on the first floor and second floor, we are looking for competent operators from the fashion, accessories and sports sectors, among others. Uses complementing the retail trade from the home & living sector, leisure facilities and medical and health practices are also conceivable.”

The strengths of neustadt, which has around 32,000 square meters of leasable space, include the large grocery and local supply share and high-frequency anchor tenants. Added to this are the new food court, the parking garage with 1,060 parking spaces as the first point of contact in the city center, the very good transport links, the large catchment area of around 870,000 inhabitants and the proximity to various educational institutions. Tenants in the neustädter include H&M, Media Markt, Müller Drogerie, Woolworth, Tegut, Penny, Kult, Tally Weijl, Vero Moda, Jack & Jones, Tom Tailor, Reno, Shoes & More, Apollo Optik, Bastler Zentrale, FitX, Schlaraffenland and numerous gastronomic offerings as well as a new Samsung store.

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