GRR GARBE Retail Real Estate GmbH (GRR GARBE Retail) has acquired the Werne City Mall local shopping centre in Werne, North Rhine-Westphalia, by means of an asset deal on behalf of a pension fund. The seller is a Luxembourg investment company, and both sides have agreed not to disclose the price. NAI apollo brokered the transaction. Legal and tax support was provided by Jebens Mensching in Hamburg. Gleeds Germany was responsible for the technical due diligence. The food retailer Rewe is the anchor tenant of the property and uses about half of the total rental area.
The mall was built in 2004 and renovated last year. It is located in the city center of Werne at Konrad-Adenauer-Platz on a plot of around 5,800 square meters. The property itself has a total lettable area of around 4,700 square metres, divided into six fully let units. In addition to Rewe, the Dutch non-food discounter Action, the drugstore chain Rossmann and three restaurants are among the tenants. The shopping center has about 250 parking spaces.
Due to its very central location, the Werne City Mall is very easy to reach both on foot and by car. The nearby Stadthaus bus stop is a hub of the city’s public transport, which means that visitors from Werne and the surrounding area can easily travel without a car. Around 30,000 inhabitants live in Werne, and over 25,000 people live in the associated catchment area. The community belongs to the district of Unna and is located in the southern Münsterland. It is located 20 kilometers north of Dortmund and about 30 kilometers south of Münster.
