GRR GARBE Retail invests in food-anchored retail location in Bürstadt for new individual mandate

"The new individual mandate is a clear vote of confidence by an institutional investor in our platform. Food-anchored local supply properties stand for long-term stability and are a central component of responsible real estate allocation." – Jan Heidelmann, Managing Director, GRR GARBE Retail

The purchased property is a fully let local shopping centre built in 2008 in the north of Bürstadt, 20 kilometres north of Mannheim and eight kilometres away from Worms. The important regional transport axes B47 and B44 run here. The property covers around 11,000 square metres, and the total rental area of the property is around 3,200 square metres. The anchor tenant of the property is the grocer Penny, which has been based there since the construction of the building and has a long-term fixed term until June 2033. Other tenants are the established chain stores Tedi, Fressnapf and Rossmann. The local shopping centre and the adjacent retail businesses form a strong retail agglomeration and ensure the central supply of the local population with everyday goods.

The technical due diligence was carried out by Schuster Real Estate Consultants from Ansbach. The transaction was legally supported on the buyer's side by the law firm GSK Stockmann in Berlin.

Further acquisitions for the individual mandate are already at an advanced stage of review.