Essen
Limbecker Strasse
With an area of approximately 1,272 square meters, Limbecker Strasse 47-49 is a mixed office and retail building. The property is centrally located on the pedestrian street. The office area is completely and sustainably leased out in cooperation Stadt Essen. In the aftermath of Covid-19, we were able to stabilize the lease situation in the two retail parts of the building. One part of the retail area could have been re-leased to a Candy-Shop and for the other part we expect to open a Cinnamon-roll-Shop in September 2023.
Germany's largest shopping center, with a total rental area of approximately 70,000 square meters, including a Karstadt center with 20,000 square meters, is constructed approximately 100 meters from our properties in Essen. Several stores on Limbecker Strasse moved into the shopping mall. But active revitalization of Limbecker Strasse by the City Government has been successful and attracts new shop concepts.
The property in Limbecker Strasse 42 consists of a rental area of 762 square meters, of which approximately half is leased to an Italian men´s outfitter. The remaining part of the property is office space. Currently vacant, but efforts to re-lease are ongoing. Also, a business case to develop micro-apartments have been taken into consideration.