Ingka Centres, a part of the Ingka Group, has simply signed a purchase order settlement with Pasing Arcaden GmbH – a subsidiary of Unibail-Rodamco-Westfield Germany – to amass certainly one of Munich’s largest and hottest procuring locations, Pasing Arcaden.
The retail-anchored mixed-use improvement – which has greater than 53,000 m2 gross leasable space – gives a powerful mixture of flagship retail, enticing residential items, and work areas. Positioned within the vibrant and densely populated Pasing-Obermenzing district, to the west of Munich’s metropolis centre, the property attracts 10 million guests per yr.
Pasing Arcaden advantages from 13-year buying and selling historical past, with present retail tenants together with: Müller, HIT, Media Markt, Aldi, H&M, Hugendubel, dm and C&A. Positioned proper subsequent to Pasing station – which attracts 85,000 commuters per day as Bavaria’s third busiest railway hub – the property is in a chief city location accessible to 1.3 million individuals who dwell inside half-hour or much less.
As soon as the transaction has efficiently closed, Pasing Arcaden will change into Ingka Centres’ fifth city assembly place acquisition following comparable transactions in Brighton, Paris, London and San Francisco. Ingka Centres can be creating new-build assembly locations with large-mixed use elements in markets comparable to India and China, tailoring its method to wants of the local people.
Cindy Andersen, Ingka Centres’ managing director, mentioned: “We’re actually excited to be again in Germany. Munich is an excellent metropolis that mixes a vibrant vitality with a thriving native tradition, making it the right house for certainly one of our assembly locations.
“Pasing Arcaden is iconic inside Munich and the 1.3 million individuals who dwell regionally. We see this as a improbable alternative to carry the Ingka Centres idea to a shopping mall backed by years of success. Most significantly, we sit up for making a vibrant, inclusive area the place the local people can come collectively to attach, store, and share experiences. That is our 26th assembly place in Europe, our first again in Germany, and yet one more flagship second for our international development journey. We will’t wait to get began.”
Pasing Arcaden has robust sustainability credentials that align with Ingka Centres’ dedication to change into extra sustainable in all the things it does. It has a excessive grade of vitality effectivity, with 75% of its consumption utilizing renewable sources. Ingka Centres strives to have a constructive influence on folks, communities and the planet, and goals to make use of 100% renewable heating and cooling by 2030.
