ACREST secures Adler Modemärkte for the Nordsee Passage shopping centre in Wilhelmshaven, Germany

Nov. 19, 2013 - PRLog -- On behalf of the owner of the Nordsee Passage in Wilhelmshaven, ACREST Property Group GmbH, Berlin, has agreed a lease with the fashion retailer Adler Modemärkte AG for a term of ten years.

The accommodation of approximately 2,100 sq m (about 22,604 sq ft) on the first floor of the Nordsee Passage was previously occupied by ProMarkt. The Adler Modemarkt store will open on 28 November 2013. The letting to Adler has led to a considerable reduction in the vacancy rate at Nordsee Passage. The Nordsee Passage totals around 35,000 sq m (about 376,736 sq ft) and forms part of the now insolvent Silo E portfolio, which was created by London-based Treveria.

Occupiers of the inner-city shopping centre, which opened in 1997, include C&A, H&M, Combi and Rossmann, along with a number of substantial regional retailers.

Since February 2013, ACREST and asset manager Corpus Sireo have jointly held the retail lease management contract for the Silo E portfolio, which comprises 148 retail properties across Germany.

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About ACREST Property Group GmbH (www.acrest.de)

ACREST Property GmbH specialises in German retail properties. The company was established in Berlin in 2006 and with its over 120 employees currently manages real estate assets worth EUR 3.7 billion and measuring a total of 2.5 million sqm. The areas of investment, technical management, asset management, property management, centre management, consulting, and retail letting are integrated under one roof. ACREST pursues a holistic approach to managing retail properties as a one-stop shop for real estate investors. The approximately 400 properties currently managed by ACREST include, among others, around 90 Woolworth properties in Germany and Austria, 43 Metro Group locations, various specialist store centres, as well as a large number of retail properties in inner city locations. Examples of current project developments are the Opel Forum in Rüsselsheim measuring around 36,000 sqm and Staufen Galerie in Göppingen with around 30,000 sqm of leasable space.