The owner-managed Dr. Peters Group reports successful lease extensions with two long-term tenants of the fund property at its closed-end DS-Rendite-Fonds GmbH & Co. Nr. 34 Geschäftszentrum Seelow KG (DS 34). Both the shoe retailer Deichmann with a rental area of 450 square metres and the drugstore chain Rossmann with around 800 square metres will remain loyal to the local shopping centre that opened over 30 years ago. Previously, another anchor tenant of the property, the food retailer Kaufland, had already extended its lease for the approximately 5,100 square metre space ahead of schedule until at least the end of March 2033.
Deichmann, which has 4,700 stores in 36 countries and, according to the company, is the market leader in German and European shoe retailing, extended its lease in Seelow by five years until the end of March 2031. In addition, the company agreed with the Dr. Peters Group on extension options of 2 x 3 and 1 x 4 years, i.e. a total of ten years. Thus, the lease potentially extends until the end of March 2041.
Meanwhile, the drugstore chain Rossmann, which currently has more than 2,300 stores in Germany, took the opportunity to exercise another of its extension options. The lease now runs for at least three additional years.
“Further proof of the high quality of our active asset management”
“The extensions of the leases with Deichmann, Rossmann and Kaufland are further proof of the high quality of our active asset management,” says Fabian Schultheis, Managing Director Real Estate at Dr. Peters. “All three tenants are convinced of the local supply center in Seelow and will continue to help ensure that its customers find a particularly diverse assortment. In addition, we are confident that we will also be able to extend their leases with other tenants of the property. After all, the location has been working for more than 30 years.”
The local shopping centre in Seelow has a total of twelve tenants and is almost fully let with an occupancy rate of 99.8%. In addition to Kaufland, Deichmann and Rossmann, the DIY store toom, Ernsting’s Family and the textile discounters KiK and TEDi are among the relevant anchor tenants of the property.
