MIMCO Capital signs a new lease for a 10-year firm term with the German company ROSSMANN
Currently undergoing a complete revitalization and with an opening horizon in Q1 2021, Gladbeck's Glückauf-Center, acquired by MIMCO Capital on behalf of its BUILDIM fund and located in the German state of North Rhine-Westphalia, will be home to a new tenant of European renown in the cosmetics and household products market: the ROSSMANN brand.
In 2019, the German ROSSMANN group, employing more than 50.000 people, recorded a turnover of more than 10 billion euros with a growth rate of +5.7% and exceeded 4.000 points of sale in Germany, Poland, Hungary, Czech Republic, Albania, Kosovo and Turkey. The group generates 70% of its revenue in Germany, with foreign companies contributing 30% of its sales.
A new 10-year firm lease has been signed with the German chain for a surface area of 876 sqm, of which 692 sqm will be dedicated to the sales area and 184 sqm to storage and common areas. The chain is expected to enter the premises in January 2021.
"After the REWE Group, we are delighted to conclude this 10-year commercial lease with another well-known brand such as ROSSMANN, which will also contribute to the new dynamism of the site and the sustainability of its activities", says Bernd von Manteuffel, co-founder and CEO of MIMCO Capital.
The ROSSMANN range is very customer-oriented and in addition to the classic product range (skin and body care, food and luxury goods, baby products, washing, cleaning and hair care products), the branches, depending on their size, offer a photo service, perfumery, toys and stationery as well as a wide range of natural food and wine products.
"We are also in the process of finalizing agreements with major companies in the decoration, fast-food and cosmetics sectors in order to bring a diversified and complete range of shops to users in the city center", adds Christophe Nadal, co-founder and CEO of MIMCO Capital.
As a reminder, the mixed retail and office property complex represents a surface area of approximately 15.000 m² of leasable space, including 10.300 sqm for retail use and a fitness center managed by the operator McFit. A further 4.700 sqm are used for offices and training facilities. The Glückauf-Center also has a 260-space car park in the city center, which will be completely renovated and managed by a specialized operator.