CORESTATE and centre manager Prelios reduce vacancies by 5,000 m2 – Repositioning of Galerie Neustädter Tor shopping centre in Giessen makes further progress

Oct 28 2019

Giessen/Frankfurt/Hamburg, 28 October 2019. The revitalisation of the “Galerie Neustädter Tor” shopping centre in Giessen / Hesse has reached its next milestone as planned. Today, Woolworth opened its new store and range concept on an area of around 1,400 square metres. To date, leases have been signed for more than 5,000 square metres of vacant space during ongoing operations. Furthermore, several tenants, such as Bastler Zentrale, Vero Moda and Jack & Jones, have changed and optimised their units, and contracts have been renewed with a number of key existing tenants. The fitness provider FitX, which has been a tenant of Galerie Neustädter Tor since early 2019, is being very well received and proving highly popular. The property was acquired at the end of 2018 by an investment vehicle managed by the CORESTATE Capital Group. Prelios is in charge of the centre’s management.