Arbireo acquires specialty retail centre in Eisenberg, Thuringia

Winters & Hirsch has advised a property developer based in northern Germany on the sale of a retail property in the Thuringian town of Eisenberg to Arbireo Capital AG.

The property Saasaer Str. 1k, 1l, 1m is a specialty retail centre completed in 2001. In the summer of 2018, the premises reopened after extensive renovation, and the original tenants, Rossmann and KiK, were joined by new tenants, an Aldi store and a Huster beverage store.

Situated halfway between the cities of Jena and Gera, Eisenberg has around 11,000 residents and is the district town of the Saale-Holzland-Kreis.

The specialty retail centre has around 3,452 sqm of lettable space.

Aldi rents approx. 1,469 sqm; the Rossmann drugstore has approx. 846 sqm. The KiK store has around 655 sqm, the Huster beverage store around 384 sqm, and around 98 sqm are occupied by a florist shop.

The plot covers around 19,113 sqm and accommodates around 139 parking spaces.

Winters & Hirsch had been instructed by the seller to market the property as the sole agent and also advised the buyer on the transaction.

The seller was represented by the Frankfurt law firm Herbert Smith Freehills.

The notarisation of the purchase contract was carried out by Dr. Börgers, notary public in Berlin.

The parties have agreed not to disclose the purchase price.