KGAL lets 2,300 square metres at WEZ Dortmund to Rusta following repositioning
KGAL Investment Management has leased around 2,300 square metres of retail space at the shopping centre WEZ in Dortmund to Swedish non-food discounter Rusta. This marks a key milestone in the repositioning of around 5,000 square metres of former furniture retail space, carried out in partnership with AREAL Consulting GmbH. By upgrading the WEZ and improving access to the units, KGAL has achieved significantly higher rental levels.
- A total of 5,000 square metres of former furniture retail space in the Westfalen Einkaufszentrum (WEZ) is being repositioned to ensure its long-term market viability
- Higher rental levels underscore the benefits of active asset management
KGAL Investment Management has leased around 2,300 square metres of retail space at the shopping centre WEZ in Dortmund to Swedish non-food discounter Rusta. This marks a key milestone in the repositioning of around 5,000 square metres of former furniture retail space, carried out in partnership with AREAL Consulting GmbH. By upgrading the WEZ and improving access to the units, KGAL has achieved significantly higher rental levels.
KGAL developed a conversion concept for the WEZ to position the property in the market for the long term. The retail space, which previously extended over two floors, was reconfigured so that the ground and upper floors can be accessed separately and let independently. A new entrance connects the ground-floor unit directly to the existing retail areas in the southern part of the centre. The upper-floor units will have their own access and separate parking spaces. There is already interest from prospective tenants in the remaining units.
“The new tenancy with Rusta demonstrates the potential that active asset management can unlock in existing properties with large retail units,” says Ferdinand Geiger, Head of Technics & Specialists at KGAL. “Together with AREAL, we have significantly improved the quality, visibility and accessibility of the units. The successful letting confirms the commercial viability of our concept.”
“With its established location and newly created retail space, the WEZ provides an excellent basis for our continued expansion in Germany,” says Mikael Ekeroth, Country Manager Germany at Rusta. Founded in 1986, the Swedish non-food discounter offers a wide range of products for home, household and leisure. The company operates more than 250 stores in Sweden, Norway, Finland and Germany and employs over 5,000 people. The WEZ store will be Rusta’s eleventh location in Germany.
Please credit KGAL when using the images.
