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Blachere illumination studio is dedicated to designing and creating new customer experiences for a variety of clients. We welcome creative teams and artistic directors from shopping centres, retailers and brands with the aim of meeting their expectations in terms of lighting displays for Christmas and other major events.

For more information: head office tel +33 490 742 095

Dear Readers, When the first edition of ACROSS came off the printing presses in 2008, we were entering

uncharted territory. We reported on the entire value chain of the shopping center industry

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in Central and Eastern Europe. Among other things, CEOs outlined their expansion strategies in exclusive interviews and top managers contributed guest articles on operating costs and sustainability. We considered carefully the geographical focus of our reporting. That’s because no other magazine had managed even to come close to covering the dynamic development of the industry in Central and Eastern Europe.


A C R O S S 2 | 2014

it isThe notnext retail that citiesletters that expansion wasneeds not longcities, in coming.but Numerous andneed conversations with readers retail. How urban retailservice properties zones reflect led us to extend our editorial to businessand activities across the continent at the end of the 2011. urban lifestyle the digital age became “ACROSS – Europe’s Shopping “ACROSS — New of Europe’s Shopping Centers”


the search for closeness

After only a few issues, we added more. ACROSS became a multimedia project: We established a monthly newsletter and started a blog.

Centers”. For us, it was only logical to continue to build on our magazine’s previous successes. Two years later, we are venturing onto the next steps in our expansion. Stephan Jung, one of Europe's most prestigious retail experts, joined ACROSS in April 2014. Since then, Jung has acted as a publisher of ACROSS and has been enriching our media house week after week with his sound expertise. We would also like to inform you of an additional development at this point. In the future, we will be expanding the focus of our reporting to inform you about all kinds of European retail property. It’s a logical step: Through its professional reporting, ACROSS has worked its way into a firm place among top decision-makers in 42 countries and enjoys their recognition and full support. ACROSS, which reaches industry decision makers directly, now has a circulation of more than 18,000 and appears six times a year in 42 European countries. Become part of this successful project! You can do this as an entrepreneur, by entering into a strategic partnership, or you can benefit from the advance knowledge our readers and subscribers enjoy. You can find all the information you need about subscription options on our website. In addition, we look forward to your comments and messages. In short: Think ACROSS.

Stephan Jung, Publisher of ACROSS Magazine

Reinhard Winiwarter, Publisher of ACROSS Magazine

COMPAny PORTRAiT iGD is waiting for the right time to sell its Romanian portfolio ReTAil The Spanish party supply company Party Fiesta is expanding exclusively in shopping centers RePORT A shopping center development boom is sweeping the Belorussian capital Minsk 2 | 2014 ACROSS


On the Right Track!............................ 6 Commentary by Alexander Otto

Projects & Openings............................16 Projects, openings, acquisitions, and other retail real estate news

Retail Park Developers Need to Watch Consumer Spending Growth Closely................................... 7 Commentary by Stefan Wundrak The Brave New World of Shopping ....................................... 8 Commentary by Marcus Wild The Mall as a Place of Infinite Imagination ...................................... 10 Commentary by Dario Travas Entering the Amazing World of Augmented Reality............................ 12 Commentary by Thomas Mark Cinema: The Best Entertainment Value ................................................. 13 Commentary by Christof Papousek Refurbishment of Retail Real Estate: Trend or Just a Buzzword? ............... 14 Commentary by Rainer Kundörfer

Still not the Right Time to Sell ............................................... 30 Following the economic crisis, Claudio Albertini, CEO of IGD, considered selling the company’s Romanian Portfolio. But it is still not the right time. IGD’s focus remains Italy Earth, Fire, Wind, Water – and Shopping .................................. 34 Unibail-Rodamco will open the “Mall of Scandinavia” in Stockholm in September 2015. The 101,000-sq-m GLA center’s architecture is inspired by the four elements Makeover of Centro Colombo......... 36 Sonae Sierra and CBRE have invested €27 million in refurbishing a mall in the Portuguese capital

The Search for Closeness . ............. 38 It is not retail that needs cities, but cities that need retail. How urban retail properties and zones reflect the urban lifestyle of the digital age A Modern Quarter for the Capital of Vorarlberg ................................... 43 The “Lakeside City of Bregenz” (“Seestadt Bregenz”) will shortly take shape “Shopping Centers Are Becoming Multifunctional Properties” . .......... 44 Christoph M. Achammer, Partner and CEO of ATP architects engineers, explains why Le Corbusier’s idea of the rigid separation of functions in modern cities has no place in the future The WestEnd Example .................... 46 Brownfield urban redevelopment or greenfield on the periphery? Each has its pros, cons, and challenges, as WestEnd in the Hungarian capital shows

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Games with Fossils . ....................... 52 From April 5 to 19, Kids Dino Dig hosted its first event in the United Kingdom at Whitgift shopping center in Croydon “The Differentiation Comes down to Quality and Focus” ..................... 54 The British specialist recruitment consultancy Foundation Recruitment is now offering its expertise in continental Europe. Chartered surveyor and Managing Director Julian Long explains the background of the company’s success, and the planned expansion

Investment News ............................... 66 Warburg-Henderson starts Central Europe fund for retail properties Retail Boosts Investments in the Netherlands ........................................ 68 Dutch investment volume will exceed €3.5 billion in 2014, boosted by the retail sector, says Savills German Retail Properties Are Hot! ................................................ 70 More than €2.5 billion were invested in German retail properties in the first three months of this year. This is an increase of 33% over the same period last year

The Foodservice Life Cycle ............ 58 Foodservice Column by Jonathan Doughty

Minsk, the “Forgotten City” . ........... 74 A shopping center development boom is sweeping the Belorussian capital

Neinver Building in Catalonia ........ 48 “Viladecans The Style Outlets” is scheduled to open at the end of 2015. Following completion of its second phase, it is expected to attract 3.6 million customers annually Upbeat Forecasts . .......................... 49 The sixth Magdus European Outlet Conference recently took place in Paris. The event’s motto was: “Does a new life begin at 40?” Villaggio Investment Group Acquires “Galerien Parndorf” . ....................... 50 By acquiring “Galerien Parndorf,” the Austrian group wants to increase the pressure on “Designer Outlet Parndorf”

Is there a Future for International Pedestrian Zones in Europe? . ........ 60 Commentary by ACROSS’s Retail Scout Jörg F. Bitzer “Our Managers Are Learning German” ............................................... 62 The Spanish party supply company Party Fiesta has Germany, Austria, and Switzerland in its sights, says Doris Neurathner, who is responsible for international expansion

Retail Parks in the Czech Republic Are Changing .................................... 80 Parks built earlier are transforming into showrooms and children’s centers, while logistic facilities are turning into retail space

EIRE.................................................... 82 Expo Italia Real Estate (EIRE) takes place from June 24 to 26 in Milan

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On the right track! By Alexander Otto, IMAGE: ECE

In some ways, the ICSC European Conference in Istanbul was like that of previous years: E-commerce and the fear in the bricks and mortar trade of becoming meaningless were the big issues. Last week’s headlines read similarly: For the first time, the retail trade in Germany will grow exclusively online this year – online sales will rise by almost 20% across Europe. So far, this is not really new. But the new and remarkable thing in Istanbul were the figures on the footfall in European shopping centers as published by the ICSC. Some attendees shook their heads in disbelief because like-for-like footfall in comparable areas remained perfectly stable; the figures have even increased slightly. Our own figures at ECE also show: Footfall and turnover in the centers have remained good in the past three years – the footfall increased by 1% in 2013 and turnovers grew by 0.8% (both like-for-like). Conclusion: The online boom has not affected European shopping centers yet. This is remarkable because it shows that we do not have to look desperately for an all-new solution – it is obvious that we are already doing a lot of things right. ICSC surveys show that centers have become crucial as a leisure activity and that trips purely motivated by shopping have declined in favor of those for strolling, eating, and entertainment aspects. Thus, shopping centers have developed with the very strengths that let them stand out from the internet. Who are we serving? This was the guiding theme of a panel that I joined at the ICSC Conference in Istanbul. Information on customers is becoming more and more important, but we must interpret the findings carefully. The average online customer is younger, better educated, and has a slightly higher net income than most of the bricks and mortar customers. The most interesting information about this customer type is that they do 75% of their shopping at bricks-and-mortar retailers – this is the chance we have to take. Apart from that, the customer profiles in European centers have not changed significantly in the past years. More slightly younger and considerably more older customers come to the centers, which is due to demographic development. Subjects such as accessibility, clear signage, large and well-arranged, parking etc. should therefore be addressed more often. On the other hand, offers via Facebook, blogs, apps, guiding systems, or innovative play areas have to be provided for younger customers. In this respect, I think that there is a lot that is already being done by professional center operators.

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Alexander Otto Chief Executive Officer of ECE

We can get even better, of course, and we cannot simply sit back with regard to the increase in online turnover. E-commerce will have an impact on our centers and we therefore need to re-invent them constantly. I can already see exciting approaches in the sector – time will tell which of these will endure. For example, Unibail-Rodamco is pursuing a good idea with its 4 Star label initiative. Sonae Sierra’s PromoFans app has an impressive number of users and Intu and Auchan aim to excel by establishing online shops as virtual shopping centers. All initiatives have one thing in common: We have to establish a unique brand, attend to loyal customers, and stand out with good will. Our events play a crucial role. They are widely popular, they are excellent sources of word-of-mouth propaganda, and they often provide entertainment for kids. In the future, these events have to be even more spectacular and more unique. We also have to focus our attention more on “service” in future. A simple orientation in the center, guiding systems, and all kinds of “invisible” support for customers help to make the shopping experience more convenient and will convince customers to come again. We must also have the courage to dispose of unsuccessful services. My conclusion: I am optimistic about shopping centers. If we manage to combine the most exciting elements from the online world with the USPs of our centers, which e-commerce cannot offer, then I am not afraid of the future. What is your opinion on this topic? Discuss it with us! Send your opinion to!

Retail park developers need TO watch consumer spending growth closely By Stefan Wundrak, Image: TIAA Henderson Real Estate

Online retail puts pressure on sales in physical stores, but in our view, retail warehouse landlords have reason to be more relaxed than owners of (secondary) shopping centers. Across most of continental Europe, retail parks are dominated by discount shops, bulky goods, and general low value items, which do not lend themselves well to being sold online: Due to their low margins, shipping costs are simply too high. Even retail park tenants will find it harder to generate sales growth in stores, however, in part due to the rather lackluster economic recovery. We have analyzed aggregate retail spending forecasts per square meter of new retail warehouse space in the pipeline (including all projects still in an early stage of planning) as a gauge for future supply/demand dynamics. It matches expected completions with estimated additional spending across European countries. The UK, the Czech Republic, Poland, and Germany look quite strong on that measure, with a modest pipeline compared to retail sales growth. The data on Spain, France, Sweden, Italy, Portugal, and the Netherlands suggest a less favorable supply/ demand picture going forward. This analysis disregards current levels of stock, for which there is no consistent data across Europe. The patchy stock evidence suggests that the UK and Germany are very mature retail warehouse markets with relatively high levels of existing stock. Looking forward, the UK comes in first place in terms of future supply/demand balance due to high spending growth forecasts rather than low construction levels. If spending growth does not materialize as expected, the market will look less favorable. Germany mainly benefits from low new supply, as retail sales growth forecasts are very modest. The Czech Republic and Poland are examples of immature markets in which high spending growth is matched by low stock and moderate expected completions. Both countries have relatively high levels of competing shopping center space, however, which dents the overall attractiveness of the market. In Central Europe, the fast advanc-

Stefan Wundrak Director of Research at TIAA Henderson Real Estate

ing motorization rate (cars per capita) will additionally benefit retail warehouses going forward. Sweden already has a very high distribution of stock and the low ranking in this chart is due to a very full pipeline, which will continue to add to high stock levels. On the spending side, Sweden (2.5% pa over the next five years) remains the top performer in Western Europe ahead of the UK and even some Central European countries such as the Czech Republic. The most curious case is the group of weaker economies Spain, Italy, Portugal, France, and the Netherlands. Across this group, sanguine developers appear out of sync with slow expected retail sales. Spain, Italy, and Portugal have quite low levels of retail warehouse stock, however, as developers have in the past focused on shopping centers. Despite being a mature retail market, France has always been tight on stock and an accelerating pipeline will do less harm than in over-shopped locations (like some British, Dutch, or Swedish regions). Also, a long pipeline does not necessarily mean that all the projects will become reality; indeed, due to severe restrictions on financing in Spain, Italy, and the Netherlands, many ideas will never see the light of day. What is your opinion on this topic? Discuss it with us! Send your opinion to!

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Entering the amazing world of augmented reality BY THOMAS MARK, Image: MK Illumination

The introduction of augmented reality technology is adding a new dimension to Christmas decorative lighting installations that enables shopping centers to engage with visitors on a new level. Augmented reality is a means of overlaying digital content, such as graphics and sounds, on a user’s view of the real world to give the illusion that situations are happening in real life. By combining the digital and physical world, it creates exciting and endless possibilities to bring brands to life and enable consumers to engage with them like never before. Augmented reality technology has been around for years, but only in the past decade has it become possible to unleash its potential as an innovative marketing tool. This has been caused by the developments of mobile technology and the emergence of smartphones and tablets, which provide a new platform for brands to reach their target audience and enable people quickly to access and browse new content.

“We have embraced augmented reality technology to add a new dimension to our decorative displays and deliver extra value to our clients.” At MK Illumination, we have embraced augmented reality tech nology to add a new dimension to our decorative displays and deliver extra value to our clients. We have created a special application called “Where is Santa Claus?” which can be installed as part of the customer’s Christmas display or grotto. It is supported by an interactive storybook that comes to life with animated graphics when children point the book at clearly identified markers within the display. This enables children to interact with characters from the story and participate much more closely with the story. The application was showcased at Christmasworld 2014 in Frankfurt and was well received visitors to the stand, who were eager to learn how the story could bring a wow factor to their Christmas displays and help them to stand out from the competition.

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Thomas Mark Vice President of MK Illumination

Over the past few years, the role of Christmas decoration displays has changed dramatically. Where once festive displays were installed merely to symbolize Christmas, they are now perceived by shopping centers as an essential marketing tool to attract customers during the peak retail period of the year. This rejuvenated perception of festive lighting displays has meant that shopping centers now look to decorative lighting displays to differentiate their shopping experience, add value to their brand profile, and build a lasting relationship with consumers. A Christmas decoration scheme that features an augmented reality application enables shopping centers to deliver a fun and memorable shopping experience that cannot be replicated online and enables them to engage with their core audience instantly and on a much more personal and emotional level. As shopping centers continue to embrace the concept of experiential marketing, it is essential that they find marketing platforms that engage with customers in the run-up to Christmas. A Christmas display that features an augmented reality application can provide shopping centers with a competitive edge at the peak retail period of the year. What is your opinion on this topic? Discuss it with us! Send your opinion to!

Cinema: the best entertainment value BY CHRISTOF PAPOUSEK , Image: Constantinfilm

ChristoF Papousek Managing Partner of Cineplexx International

American film productions achieved worldwide box office revenues of $36 billion (€26 billion) in 2013. That’s a record! Cinema is expanding worldwide and the momentum in film production continues unabated. An average of 13 new cinema screens are erected every day in China. This year should also see 200 new screens going up in Pakistan. Cinema is growing fast in India, too, with Latin America and Russia not far behind. The cinema market is becoming more global, which means that global trends, as well as various local preferences from different markets, now come together to be included in new film productions. The productions are varied, the genres diverse. Cinema is a large and comprehensive source of perfect leisure entertainment. Nevertheless, the year 2013 was a bit difficult and 2014 will be as well, especially in mature markets such as North America and Western Europe. The dynamics of growth in new markets are still providing a fillip to the film industry, however. In more traditional markets, there are many side effects that are having a negative impact on the total number of visitors. The weather deserves mention here, but even more important is the impact of major sporting events and other mega-events in various countries. The 2014 World Cup is one example. During this time, cinema will of course be forced into a less noticeable role and briefly replaced by soccer. Debuts are set to occur before and after the World Cup, during which only smaller productions will tend to be released. This will naturally affect consumer spending and the number of tickets sold. In 2015 we expect big blockbusters that should be unaffected by sports or other major planned events. A new James Bond film is to be released, followed by a resumption of the sequel to Fast & Furious. At the end of the year, we can look forward to George Lucas’s film version of Star Wars, Part 7. The major productions are enjoying ever-improving quality in theaters; operators are constantly called upon to upgrade their cinemas. The digital revolution in film projection is now being followed by the expansion of three-dimensional sound. Sound formats like Dolby Atmos and Barco Auro are conquering cinemas and delighting audiences with multichannel sound. The number of speakers in cinema audi­toriums is increasing and positioning them on the ceilings now allows three-dimensional sound quality, which audiences particularly enjoy. As far as projection goes, digital projection is now heading

towards 4K, which corresponds to eight times the resolution of what we have so far witnessed and considered to be perfect. Image frequency is also sometimes raised (high frame rate) to 48 frames per second. This allows for particularly sharp images and eliminates any blurriness in 3-D projections. The greatest technical innovation in the field of projection is yet to come, however: laser projection. Major technology developers are working hard to bring this new projection system to market. Manufacturers like Sony, Christie, and IMAX plan to offer laser projectors that provide an even wider color gamut and even better light intensity. Laser projection is expected to be ready for the market in 2016. Cinemas are also investing in constantly improving seating comfort. There is a trend towards wider seats and VIP auditoriums or VIP rows in larger auditoriums. The last two to three rows are equipped with comfortable leather armchairs with greater legroom and small tables between them for stowing popcorn, Coca-Cola, or handbags. All these developments are happening constantly. Cinema operators are meeting the challenge and are willing to make the necessary investments. This is the only way to constantly renew audiences’ enthusiasm. If we look at all the investments in image and sound and in the stories that great filmmakers are telling us, we can see it clearly: All this is a fantastic experience. A home cinema could never offer all that. The big screen is something unique. The cinema experience is also special because audiences experience films together with others. The shared experience is always a reason why a lot of money is spent on certain leisure activities like pop concerts, ski races, football games between top teams, and even Formula 1 races, where ticket prices are often between €50 and €150. If we bear in mind that visitors in Western Europe pay an average of about €8 for a cinema ticket and get over two hours of perfect entertainment, it is obvious that cinema has “the best entertainment value.” What is your opinion on this topic? Discuss it with us! Send your opinion to!

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Image: Multi


Image: Broadway Malyan

JAAP BLOKHUIS Multi Corporation, which was acquired by real estate funds managed by Blackstone last year, has announced the appointment of Jaap Blokhuis as Chief Executive Officer. He started in mid-April. Blokhuis was previously Chief Executive Officer of Redevco, which became one of the largest retail real estate investment management companies in Europe under his leadership. He has also served on the Supervisory Boards of Rabo Real Estate Group and of Corio NV. Ken Caplan, Blackstone’s Head of European Real Estate, said: “We are delighted to welcome Jaap Blokhuis as Chief Executive of Multi. He has a unique level of expertise in retail asset management throughout Europe, which will benefit Multi greatly as it further expands its portfolio of leading shopping centers. We are enthusiastic about the growth prospects of Multi under Jaap’s leadership.

Broadway Malyan completes one of Carrefour’s first commercial centers The global architecture, urbanism, and design practice Broadway Malyan has completed a major mixed-use and retailanchored shopping center for Carrefour in Huelva, southern Spain: “Holea”, which originally included a 15,800-sq-m Carrefour hypermarket, has been extended with 35,000 sq m of additional retail and leisure GLA, making it one of Carrefour’s first completed commercial centers as it seeks to widen its property interests and maximize the value of its portfolio through creative asset management and expansion. The scheme takes its design influence from local Mediterranean villages and materials, incorporating distinctive design details into a modern shopping mall format. The mall includes open air boulevards and public spaces connecting retail and leisure units within an integrated overall scheme. The ‘open air’ treatment was selected to mirror the local village feel, as well as to achieve high levels of overall energy efficiency and sustainability. In response to the high summer temperatures in Huelva, the interior of the mall is crowned with a textile covering that allows natural shade and saves energy in the premises. The green walls in the interior create a cooler microclimate and have a beautiful visual effect. Meanwhile, the white-colored façades reduce sun radiation and cause the whole scheme to invoke images of typical Andalusian villages. “Holea” includes a 10-screen cinema and major fashion brands such as Zara, H&M, and Primark.

NETHERLANDS Wereldhave now owns all of De Koperwiek Wereldhave has reached an agreement with Van der Vorm Vastgoed on the acquisition of its part of the shopping center Koperwiek, thereby increasing its ownership to 100%. The purchase price including transaction costs amounts to €60.1 million (including €3 million for development), reflecting a net initial yield of 6.1%. Having full ownership offers Wereldhave the opportunity to improve the connection between both parts of the mall, create bigger units, accommodate new tenants, and realize cost synergies in asset management. De Koperwiek is a locally dominant shopping center in the center of Capelle aan den Ijssel, 5 km east of Rotterdam. With a GLA of 25,000 sq m, the scheme serves a primary catchment area of 66,000 inhabitants in Capelle, increasing to 110,000 within a two-kilometer radius. The catchment is forecast to show modest growth and the income profile is slightly above the national average. With its location next to the town hall, public library, theater, and metro station, the center has served as the heart of the city since the first phase opened in 1966. It was extended several times since then, and now comprises more than 100 shops. De Koperwiek is anchored by two supermarkets, Albert Heijn and Jumbo, and several national and international chains, for example H&M, Rituals, Douglas, Ici Paris, and Coolcat.

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POLAND Poznan City Center changes hands

Image: ECE

The ECE European Prime Shopping Center Fund and Resolution Property acquired Poznan City Center in Poznan in mid-March in a 50/50 joint venture between Europa Capital and TriGranit. The mall opened in October 2013. It includes around 58,000 sq m of lettable space and offers its visitors around 230 shops on three levels, including two food courts. The mall is 90% let. Its anchor tenants include Saturn, TK Maxx, H&M, Reserved, Bershka, Pull&Bear, and Toys R Us. Volker Kraft, Managing Partner, ECE Real Estate Partners: “The ECE European Prime Shopping Center Fund is now fully invested with the acquisition of Poznan City Center. I am pleased that we are now represented in the fifth-largest city in Poland as well – in a high-traffic, downtown location. With ECE’s management experience, we will further establish the Center in the market and improve upon its success.” ECE is now responsible for its management and leasing. Asset management is the joint responsibility of Resolution and the ECE European Prime Shopping Center Fund. Poznan is about 280 km west of Warsaw and is the fifthlargest city in Poland. The central location of Poznan City Center next to the main train and bus station and only a ten-minute drive from downtown means that the shopping center can be reached very easily both on foot and by public transport.


Land Securities has exchanged contracts to sell Overgate to Legal & General Property for £125.3 million (€151.7 million). Overgate is the dominant retail center in Dundee, Scotland’s fourth-largest city. The fully enclosed mall totals 39,000 sq m of retail space, comprising 70 retail units and two multistory parking garages with more than 1,000 spaces. It is anchored by Debenhams and Primark and has several other well-known retailers under its roof, including New Look, River Island, TopShop, and Superdry. Charlie Walker, Director of Business Development and Fund Manager at Legal & General Property, said: “This investment delivers a strong income profile as a core asset, while also providing additional opportunities to drive footfall and alter the tenant mix to enhance the rental tone across the scheme.” Cushman & Wakefield acted for Land Securities. CBRE acted for Legal & General Property.

Image: Land Securities

Land Securities separates from Overgate

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UNITED STATES Hines acquires the largest outdoor retail center in Texas

Image: Hines

Hines Global REIT, Inc. recently acquired Thomas Land & Development’s retail interest in The Rim, the largest outdoor retail center in the state of Texas, located in San Antonio. The Rim is a 167,000-sq-m outdoor retail center situated at the corner of Interstate 10 and Highway 1604 in Northwest San Antonio – one of the fastest growing areas in the city. Phases one through four of the complex were completed between 2006 and 2008, and phase five is scheduled to be completed by December 31, 2015. Hines Global REIT acquired 74,000 sq m of The Rim, which is currently 99.5% leased to a number of well-known tenants, including: Best Buy, Dick’s Sporting Goods, JC Penny, Nordstrom Rack, Saks Off 5th, and TJ Maxx. Hines Global REIT also acquired rights to the 24,000 sq m currently under construction and expected to be completed by December 31, 2014 and the right to purchase an additional 9,000 sq m expected to be constructed by December 31, 2015.

AUSTRALIA Half of Piccadilly Center sold

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Image: Stockland

Stockland recently exchanged un­conditional contracts for the sale of a 50% stake in the Piccadilly tower, court, and retail center to Investa Office Fund for AUD $194.25 million, subject to adjustments for lease in­centives. The adjusted sales price is in line with Stockland’s December 31, 2013 book value. Located in the heart of the Sydney’s Central Business District (CBD), the asset comprises a 32-story, A-grade office tower, a neighboring office tower, and a twostory retail shopping center with ex­posure to Pitt Street and Castlereagh Street. Managing Director and CEO Mark Steinert said: “This is a good example of how we are utilizing capital partnering to improve our risk/return profile. This allows us to actively recycle and redirect capital to pursue new, accretive opportunities.” The transaction will establish the second joint-venture between Stockland and Investa in the last two months, following Investa Commercial Property Fund’s acquisition of a 50% stake in 135 King Street and the Glasshouse Retail Center, fronting on Pitt Street Mall in Sydney. Stockland retains its 50% stake in 135 King Street and Glasshouse.




Alexander Otto to be new share­holder of Sonae Sierra Brasil Alexander Otto, CEO of ECE, is expanding his business activities to Brazil and becoming a shareholder of the shopping center company Sonae Sierra Brasil, SA. Otto will acquire his 50% stake in a joint-venture with the international shopping center specialist Sonae Sierra for approximately €240 million from the US-based company DDR Corp. This joint venture owns 67% of the listed company Sonae Sierra Brasil (SSBR3) as well as a significant share of “Parque D. Pedro,” a shopping center located in the São Paolo metropolitan area, which is the largest mall in Sonae Sierra Brasil’s portfolio. Sonae Sierra Brasil is one of the leading shopping center companies in Brazil and currently operates 12 centers, 10 of which are owned by the company and two that are owned by third parties. Two-thirds of the centers are located in the federal state of São Paolo. This portfolio comprises a total lettable area of 502,000 sq m. “Parque D. Pedro” shopping center alone has a GLA of 121,000 sq m and 400 shops. Sonae Sierra Brasil is a fully integrated developer, operator, and investor in shopping centers with approximately 145 employees. Alexander Otto says: “I am pleased that, with the share purchase of Sonae Sierra Brasil, we can invest in South America for the first time. Even in a challenging market environment, we have the opportunity to bring our global expansion a big step forward in emerging markets. I am convinced of the company’s great potential and professionalism and see good growth perspectives in this dynamic market.”

Seletar Mall opening this year The Seletar Mall, with its 26,400 sq m of GLA, will be a suburban family-oriented shopping center sited within easy access to public transport and major expressways in Singapore. The mall comprises a four-story podium and two basement levels that provide an eclectic mix of retail, dining, and lifestyle options. Its triangular-shaped design has three prominent corners clad in glass, which form the entrances to the complex. A highlight of the interior is a large clerestory that perches above the four-story atrium, flooding the clearly organized and voluminous shopping space within the atrium with diffuse natural light. The creative use of terracing provides a sense of spatial expansion and allows interlocking foodservice spaces to overlook the atrium and generate a lively environment within. The Seletar Mall is scheduled to open later this year.

Image: DP Architects


CEE Trade Fair For Retail Investment May 28-29, 2014 National Stadium, Warsaw

Are you ReDI? CEE TRADE FAIR FOR RETAIL INVESTMENT Retailers - Developers - Cities A A A A A

venue for presenting new and existing shopping centre projects in Poland and other CEE countries. presentation centre for retailers who want to enter the Polish market and develop in the CEE region. franchise & support centre for retail networks having a strategy for the CEE region. platform for supporting and developing shopping streets in Poland. place for presenting new services and technologies that support shopping centres and streets.


Strategic partner

Media patron


Palm Beach Outlets, Palm Beach County’s first outlet center, opened with great fanfare on February 14 with a charity night, ribbon cutting, and celebrity fashions. Featuring over 100 stores, including brand favorites Saks Fifth Avenue OFF 5TH, Factory, Ann Taylor, Kenneth Cole, Talbots, and Under Armour, Palm Beach Outlets has been eagerly anticipated ever since New England Development and Eastern Real Estate announced the development. Located directly off Interstate 95 on Palm Beach Lakes Boulevard in West Palm Beach, it is the only outlet shopping destination within 55 miles. In his remarks, Stephen Karp, Chairman of New England Development, lauded the many people involved with opening a project of this magnitude. “I am thrilled to be here today to celebrate the grand opening of Palm Beach Outlets with the hundreds of people who have helped make this day possible. We truly appreciate the dedication of the men and women who have worked so hard on this project. And today, I am especially pleased to welcome the 100 stores and more than 1,000 employees who will be instrumental in making Palm Beach Outlets a special, regional shopping destination here in West Palm Beach.” The project is expected to have a $319 million economic impact.

Image: Nedevelopment

Great fanfare over Palm Beach Outlets

Image: Immochan


New shopping destination in Ningbo Immochan’s “Sun Art Plaza” project is located in Ningbo, a port city second only to Shanghai. The site is located at the heart of the new mixed development area. The mall will comprise around 46,000 sq m of GLA. It will include a hypermarket on two floors, over 150 shops, and 1,600 parking spaces, and will have a catchment area with over 500,000 residents living within a 5 km radius. From an architectural point of view, alternating metal and bamboo will give a decidedly contemporary feel to the entire center, which will be supported by a majestic arch and will located in a 10,000 sq m green area providing a superb setting. “Sun Art Plaza” is to open in second quarter of 2014.

14 ACROSS 2| 2014 Zweibr端cken The Style Outlets

Experience, Profitability and Future Because we are committed to a quality shopping experience based on location, architectural design, brand mix and services. The Style Outlets and FACTORY outlet centres offer choices that are functional and efficient while remaining attractive to shop operators and visitors. Because we have developed marketing and leasing strategies that ensure successful results, increasing foot traffic in 2013 by 12% and total sales by 11% compared to 2012. Because we develop and manage our outlet centres using principles of economic and environmental sustainability. We are creating the future of retail in Europe. 311,600 SQ.M.


Cover story

THE SEARCH for Closeness

It is not retail that needs cities, but cities that need retail. How urban retail properties and zones reflect the urban lifestyle of the digital age.

By Reinhard winiwarter

When the International Council of Shopping Centers (ICSC) revealed the winner of the Euro­pean ICSC Shopping Center Award for 2014 at its conference in Istanbul, Turkey, in early April, few were surprised at the winner of the “Best New Development” category. The start-to-finish winner in this “royal class” with an area of over 45,000 sq m, was the much-acclaimed project Trinity Leeds. Another reason this was unsurprising was that the project’s developer, the British group Land Securities, had already won the Mapic Award 2013 in the category “Best Retail Real Estate Development in City Center” just a year earlier. Rightly so. After all, the Brits succeeded in achieving a milestone in shopping center development with the mall in Leeds. Trinity Leeds brings together virtually all the parameters that a modern retail property must offer and even goes one spectacular step further. The Trinity Leeds project roofed, incorporated, integrated, and put to more extensive use three top shopping streets in the center of the British city of Leeds, making Trinity Leeds the inner-city shopping and leisure desti­ nation par excellence. The figures vindicate the developer’s and operator’s ambitions. In the first year alone, more than 22 million visitors marveled at Leeds’ new commercial project. It also gave the city around 50 new brands.

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But why is Trinity Leeds so spectacular? Why do international commercial real estate experts almost without exception go into raptures when confronted with the project? Isn’t Trinity Leeds really just a programmatic recapturing of longstanding commercial premises? Is this project not just a sign that retail is rushing to re-occupy its former position, its original place of activity in the center of the city? Is Trinity Leeds per se a city in its form and function? And what how did this early 21st-century project assume a leading function seemingly without effort and with no contest?

The first pedestrian zone in the new republic The answers are not easy to give and the multifunctional complexity and interaction between the development of cities and retail over the past 150 years offers a variety of interpretations. Cities proliferated in an era of burgeoning industry and saw themselves primarily as production facilities with an inexhaustible pool of labor. The search, particularly for a contemporary re­de­finition of the city after the end of the industrial revolution does not seem to have eliminated the alleged contradiction between living and

working spaces. Retail itself was demoted, with few exceptions, to purely a supply function, which did not change even after two world wars. It was only in the ‘50s that the face of retail slowly began to change. Germany, for example, opened its first official pedestrian zone in November 1953 on Treppenstraße in Kassel. Its establishment was part of a reconstruction competition after the city of Kassel was severely damaged during the war years by numerous bombing raids. Several other projects followed. The optimistic mood and the eco­nomic recovery in Europe led to a “golden age” for retail and Europe’s shopping streets prospered. But times and conditions are always changing.

A new lifestyle, so-called digital modernity, longs for urbanity and is steeped in a desire for cities, density, intensity, and experience. Progressive individualization and desires for privacy are offset by a strong sense of belonging that demands openness, community spaces, change, dynamism, and a collective identity that can best be found in the region and the immediate vicinity. It is probably no coincidence that more and more successful retail formats and concepts rely precisely on this strategy of regionality and authenticity. The return of retail to cities, and thus into consumers’ neighborhoods, is unstoppable.

Due to its success, retail grew up quickly, soon outgrowing the centers of cities. Cities and towns could not keep up with retail’s new selfconfidence and its demands for more and larger spaces. The advent of a new form of commercial property, the shopping center, did the rest. At the same time, politicians and city planners created zoning plans that forced retail spaces and retailers to the edges of cities and beyond. Shopping, at least what went beyond covering daily needs, took place “in the distance.” The consequences of these poorly thought-out zoning rules and their negative influences on neighborhood development in most European cities are still plainly visible to this day.

Image: SMA

experts in Austria are almost positive that the G3 Shopping Resort Gerasdorf in the north of Vienna, which opened in late 2012, was the last great dinosaur to open its doors on a green meadow. Major new developments on the periphery of cities seem to be passé, at least for now. But it is not just stricter zoning rules that are bringing oversized greenfield projects to an end.

reinhard Winiwarter Publisher of ACROSS Magazine and Managing Director of sma

Trinity Leeds rightly won the 2013 Mapic Award in the category “Best Retail Real Estate Development in City Center.”

City managers and their planners are now slowly rethinking their strategies and are setting out to correct the “errors” of the past. They have realized that it is not retail that needs cities, but cities that need retail. The current importance of retail for cities is almost beyond measure. Numerous European cities and the billion-euro industry of “urban tourism” live off the city retail trade. Countless historical marketplaces like the Hanseatic quar ters of Bremen, Lübeck, Hamburg, and the centers of Prague and Vienna are defined by sophisticated buildings left by retail over hundreds of years. Certainly no one visits a city to see the aberrations of city planners. Increasingly stringent zoning rules now prevent larger shopping destinations and shopping malls on the edges of cities from emerging. Industry

Image: Leeds and Partners

Retail returns

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Cover story

Image: Gerald Lechner

Industry experts in Austria are almost positive that the G3 Shopping Resort Gerasdorf in the north of Vienna, which opened in late 2012, was the last great dinosaur to open its doors on a green meadow.

The diverse interests of all parties

An arc from history to modernity

Developers know that the return of retail to cities in its current form is fraught with some – by no means insurmountable – difficulties. The different interests of all the parties involved are as numerous as the stakeholders who engage in these processes. In any case, it is important to bring owners, authorities, merchants, neighborhood residents, professional organizations, and politicians together around one table. Building codes, urban features, historic preservation rules, and infrastructural conditions all add additional complications. Yet the opportunities and benefits of inner-city commercial projects outshine the fundamental difficulties in their realization and implementation by far.

One of the most successful examples of such properties in the recent past is located in Dusseldorf. The planners (the developers and Daniel Libeskind) landed an urban hit with the Kö-Bogen on Königsallee and the City of Dusseldorf took advantage of a unique opportunity to restore the city structure created in the 19th century. The property is the “place to be” and offers diverse shopping on several floors, in addition to sufficient natural, dining, and re­creation areas. The unusual floor plan and the main facade of almost white natural stone and glass adapt themselves to their environment and set themselves apart from it at the same time in almost the same manner. Planted terraces and patios create a natural environment and fulfill the desire for natural spaces in urban areas. The building’s intention reflects precisely those attributes that a modern commercial property needs to provide nowadays. It is an open-plan and adaptable meeting space, the multifunctional usability of which attracts a broad spectrum of individuals. Consumers do not come to the shopping center of the future just to go shopping and with a set list in mind. In contemporary commercial spaces, people meet, stroll, and hang out – buying is almost incidental.

Ideal commercial properties consistently reflect the aspirations and sentiments of consumers. The shopping center of the next generation is urban, modern, dynamic, demand-driven, and is at the center of an increasingly urban experiential society. It has become a central part of the de­liberate and consistent implementation of urban and sociopolitical neighborhood development and thus opens its environment to the outside in both form and substance. The center itself becomes the brand and the message.

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Kö-Bogen is also an example of the successful implementation of what is becoming ever more consistently required: neighborhood development. It also illustrates the overarching role retail plays, and needs to play, in such developments. The actual architectural implementation – the form of the commercial property itself – can vary quite widely: closed like a shopping center, as a modern adaption to the department store theme, as a modern marketplace, and so on. We can now observe a very interesting experiment in Lüneburg Heath in Northern Germany. Designer Outlet Bad

Münstereifel will hopefully turn the historic city of Bad Münstereifel back into a leisure and shopping destination. Located in the center of this histori­c ally rich town with picturesque halftimbered houses, the Designer Outlet will be home to 60 shops, cafes, and restaurants, and a children’s playground on 13,500 sq m. The completely “open” outlet center invites you to go shopping in the open air. Only time will tell how and whether this project will fare. Another equally successful example of contemporary neighborhood development is located in the center of Vienna. The Austrian property investor René Benko is creating his “golden quarter” on the most expensive shopping street in the former imperial city. The interesting thing about this: by buying, revitalizing, and remodeling a heritagelisted piece of real estate (which was used until recently as the headquarters of an Austrian bank) and subsequently leasing it to international top brands, Benko has created a highly regarded luxury shopping mile and shows that neighborhood development can be entirely sensible even in a traditional, sophisticated, and well frequented area. City Outlet Bad Münstereifel’s more than 60 shops are modeled on a naturally grown village.

Image: City Outlet Bad Münstereifel

Center management in modern urban developments also takes on a whole new dimension. The ostensible goal of “managers” is to create spaces for meeting and put them to use. The commerciali­ zation of halls is passé. In the age of online channels, it is important to make people excited about “their” spaces again. Who buys what, where, and why is secondary. In this vein, the traditional business model in the shopping center industry of area and turnover rents will probably need to be consistently and permanently reconsidered. Socalled “broker driven developments” will soon belong to the past. Just buying and selling sites is not a successful model anymore in the long run. Quality, rather than quantity, is the order of the day.

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Cover story

Image: Archimation

Kö-Bogen’s planners took advantage of a historic opportunity to restore part of Dusseldorf to its 19th century glory.

Pop-up retail properties are the complete opposite of neighborhood developments, which are naturally designed for long life. These properties “pop up” for a short time and disappear again just as quickly. They are a phenomenon that has become indispensable in cities nowadays. By the way, the term “pop-up” comes from “computer speak.” It refers to a visual element that pops up on the screen and overlaps other screen elements. Applied to space in cities, this means something new can open anywhere. In turn, something can also be hidden behind this new element, allowing more options. This is what happened in London: Boxpark, according to its owners the first pop-up mall in the world, opened its doors in 2011. The temporary mall consists of 61 black shipping containers in the Shoreditch district that house British fashion and lifestyle brands. Galleries and cafes are also available in Boxpark. The pop-up property is still at the same spot in the British capital. The operators remain silent as to when it will disappear and whether and where it will then show up again. The metropolis on the Thames thus gains ex­citement and dynamism, which are particular­ly appreciated in the anonymous digital age. Pop-up malls are nevertheless seen as a marginal phenomenon in the range of urban real estate, of course. After all, in terms of usage possibilities, they can’t hold a candle to large shopping centers.

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Image: Boxpark

Pop-up: rapid urban phenomenon

Pop-up malls like London’s Boxpark add dynamism to cities, something very much appreciated in the anonymous digital age.

How important these city shopping centers and the revival and “re-creation” of urban neighborhoods are, and what central role retail must play in them, will be revealed in time. One thing is certain: Retail is and always has been an essential and defining element of our cities, even though its function in the second half of the 20th century seemed significantly undervalued. The fact is: Retail is returning to its rightful place – at the centers of cities – and this trend is only just beginning.

A modern quarter for the capital of Vorarlberg

Image: Aicher-Zechner

About the project

In the far west of Austria, the “Lakeside City of Bregenz” (Seestadt Bregenz) will shortly take shape. The project is driven by SES Spar European Shopping Centers and the Prisma group. A new city-center living space with a focus on shopping, living, working, and dining will take shape over the next couple years in the middle of the capital of Vorarlberg: Bregenz. It includes the extension of the city’s current pedestrian zone on the Bahnhofstrasse. Based on the model of the existing city, but adding diverse and lively structures and new public spaces, the “Lakeside City of Bregenz” is set to become a modern city district integrated into the urban fabric. As a complement to existing urban facilities, the project will make Bregenz more competitive.

Brand debut for Zara in Vorarlberg The revival of the site will create links across district boundaries between the city center, the train station, the Maritime Quarter, and the

The “Lakeside City of Bregenz” is being developed and implemented in a strategic collaboration between the Prisma group of companies and SES Spar European Shopping Centers. The merger of this cooperation into PRISES Quartierentwicklung GmbH condenses the knowledge about the careful design, implementation, and management of city-center neighborhoods together with many years of international experience in the development and operation of successful retail locations. Area: 9,000 sq m Usage spaces: 14,000 sq m retail and hospitality, 2,000 sq m offices, 60 rental apartments Underground parking: 600 spaces on two levels Implementation period: Autumn 2014 to the end of 2016 (planned)

festival area. These complex networks include new paths and places as well as the Seespange, a direct bridge connection to the lake over the train tracks. The planned areas for shopping, living, working, and dining reflect the urban character of the “Lakeside City of Bregenz.” The fashion label Zara, part of the Spanish Inditex Group, has certainly taken a liking to the project. It plans to open a 3,800-sq-m store on three levels in the “Lakeside City of Bregenz.” “We have managed to get one of the most coveted brands excited about Vorarlberg and the festival city of Bregenz. The Inditex Group selects only the best locations for its concepts and will attract many other strong labels. The ‘Lakeside City of Bregenz’ will thus become Vorarlberg’s fashion hotspot,” comments Marcus Wild, CEO of SES.

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MAY 28 – 29, 2014 WARSAW, POLAND


Image: PRCH



The Urban Land Institute’s (ULI) annual Real Estate Trends Conference takes place in early summer in London and will bring together over 250 senior real estate leaders from across Europe to discuss key industry trends and new innovations. The event will examine current trends in European real estate, from sustainability initiatives and technical advances to changing city requirements and property market conditions. It provides a forum for real estate leaders to stay up to date in their rapidly changing sector. Attendees represent a broad cross-section of disciplines, including real estate developers and owners, fund managers, financiers, and senior public officials. The conference incorporates the Summer Council Day for ULI’s European Councils and also includes a leadership dinner.

More Info: WWW.ULI.ORG

ReDI, organized by the Polish Council of Shopping Centers (PRCH), is the ideal meeting place for property developers, investors, and town and city representatives to discuss the future of the retail industry in Central and Eastern Europe. The event, held on May 28 and 29 at the National Stadium (photo) in Warsaw, stands out among other events organized in Poland so far. Organizations attending include international representatives of retail chains planning to invest in CEE countries, institutions that support tenant development through franchise projects, investment funds, banks, and groups of companies seeking opportunities to buy new properties. There will be presentations of shopping centers in Poland, Lithuania, Latvia, Estonia, Russia, Ukraine, the Czech Republic, Romania, Hungary, and other countries. Exhibitors include the Inter Ikea Center Group. Iwona Borkowska, Marketing Director at Inter Ikea Centre Group Poland, says: “We count on new retailers’ attendance at the ReDI Trade Fair, especially those that plan ex­­pan­­sions in Poland and other CEE markets. We will soon be developing extensions of two projects and plan to start a developing process in Lublin. The ReDI initiative perfectly suits our plans for the retail real estate market in Poland.”

Image: ULI


JUNE 17 – 19, 2014 PARIS, FRANCE JUNE 24 – 26, 2014 MILAN, ITALY

SIEC 2014


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Image: Siec

This year’s SIEC takes place in Paris at CNIT, one of Europe’s largest business areas, from July 17 to 19. Under the aegis of the French Council of Shopping Centers (CNCC), SIEC attracts key players from retail real estate to talk business, negotiate and seal deals concerning shopping center locations, view cutting-edge products and services, find out about groundbreaking retail concepts, and learn about rapidly developing areas of towns and cities. The three days of the event contain a vibrant mix of conferences, exhibitions, and other events, all of which present an excellent opportunity for networking. The CNCC awards will also be presented during the event. The organizers estimate that there will be 120 presenters and 4,000 participants, including representatives from AEW Europe, Groupe Chessé, Figa, Grosvenor, Hammerson, Oxylan Village, Vicity, and Viveris Reim. The retailer side includes Abercrombie, Crocs, Kaporal, Leader Price, Mix Beauty, and Promod.

The tenth annual EIRE (Expo Italia Real Estate) is scheduled to take place from June 24 to 26, 2014, at FieraMilanoCity. The event functions as an international exhibition of the Italian real estate market. It is a place for presenting qualified companies that work in development and urban renewal. This makes EIRE the workplace for the Italian Real Estate community. It represents a exclusive environment where industry operators meet to compare and identify the best avenues to develop real estate opportunities on Italian territory. EIRE allows each operator to meet with important real estate experts: from developers to consulting companies, law firms, real estate users and managers, and architectural and design firms. Furthermore, the event encourages encounters between the best development initiatives and national and international investors. Participation in EIRE represents an opportunity to establish collaborative relationships with industry leaders, get the latest market methods and requests as well as identify the most pertinent tools to enhance the value of real estate and locate resources.



Created in 2012, the Shopping Center Sponsorship & Advertising Conference is a premier event for learning what’s hot and what’s next in sponsorship and advertising. Attending the 2014 Conference will give participants insight into what major brands are looking for when establishing long-term partnerships and implementing a shopping center sponsorship and advertising program. The event takes place at the Grand Hyatt Hotel in New York and its program includes a discussion of methods for valuing advertising and sponsorship packages. It also centers on strategies for delivering maximum results for advertisers. Agencies and brand executives will also illuminate what they want from a shopping center. All this and more will be covered on August 4 and 5 in New York City, the world’s advertising capital.




Image: Bildpixel /



Every year, the Retail Conference has a theme. In 2014 it will be “Big Data,” which may seem to be yet another “buzz word.” It isn’t. That’s because, thanks to technological advancements in recent years, retailers now have the ability to mine vast amounts of data to get insights into demand trends, product performance, customer behavior, the impact of promotions, and a myriad of other key commercial indicators. Big data will have a transformational impact on how retailers plan the business, engage with customers, and trade via their channels. Discussion of the topic will cover how big data will liberate commercial functions by providing exceptional business insights. If asked which tools they rely on to plan and analyze their business area and its performance, most retail professionals in core commercial functions would most likely admit to relying on a complex web of interconnected spreadsheets populated with data from key business systems. It’s been this way for years. This event, however, will show the audience why many retailers are missing a huge opportunity to leverage the vast pools of data being collected by loyalty and EPOS systems, customer surveys, and e-commerce sites. This is why, in 2014, The Retail Conference aims to open the eyes of the UK’s retailers to the art of the possible when it comes to Big Data.



Dubai is often considered to be the ever-expanding retail Mecca of the world. During the study tour of the Nordic Council of Shopping Centers (NCSC) from September 10 to 14, there will be interesting meetings with local experts in the market and naturally a visit to the Dubai Mall (photo), which, with its more than 1200 stores, is a destination in itself. The visit will start with an insightful market presentation by Graham Howat at Jones Lang LaSalle, Head of Property & Asset Management, MENA. Thereafter, Philip M. Batty, Senior Director of Corporate Facilities Management at EMAAR, the developer behind the Dubai Mall, will meet the participants. There will also be a presentation and guided tour by award-winning Benoy Architects, who will present two new projects in Dubai: The Beach on Jumeirah Beach Road and Citywalk Phase 1. Both developments are a move away from the traditional mall seen in Dubai: They are both open streetscape retail schemes. The two projects have a focus on food and beverage and leisure facilities. There will of course also be several more interesting meetings on the agenda.

According to the Global Real Estate Institute (GRI), Europe’s economic tide has turned and capital is flowing. Cranes dominate the skylines of Europe’s major cities as developers dust off their plans and construction companies begin building once more. And it’s not just in London, Paris and Frankfurt. Investors are looking far and wide for new opportunities. Spain has turned the corner, Italy is following fast, France seems to be adapting its approach to business, and external investment into Europe is reaching unprecedented levels. The 17th annual GRI Europe Summit is a good opportunity to understand what clients and peers are really thinking, to get to know each other on a first-name basis, and meaningfully engage with one another, leading to new business opportunities and lasting relationships. This year’s GRI Europe Summit will take place in the Intercontinental Paris Le Grand in the French capital on September 17 and 18.




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Innsbruck, Vienna, Munich, Frankfurt, Zurich, Budapest, Zagreb, Moscow

Heiliggeiststr. 16, A-6020 Innsbruck, Austria Phone: +43 512 5370 - 0 Fax: +43 512 5370 - 1100 Email:

Blachere illumination Zone industrielle, F-84400 Apt, France Phone: +33 4 90 74 20 95 Fax: +33 4 90 74 14 63 Email:

Branddesigners Rotenturmstrasse 17/10-12 A-1010 Vienna, Austria Phone: +43 1 533 32 60 55 Fax: +43 1 533 32 60 10 Email:

CBRE Global Investors Schiphol Boulevard 281, G-tower, 8th floor 1118 BH Schiphol, The Netherlands Phone: +31 20 202 2200 *As of 30 June 2012

Christmasworld Messe Frankfurt Exhibition GmbH Ludwig-Erhard-Anlage 1 D-60327 Frankfurt am Main, Germany Phone: +49 69 75 75 - 0 Email:

cineplexx international Mag. Christof Papousek Geschäftsführer|CFO Constantin Film-Holding GmbH Cineplexx Kinobetriebe GmbH Siebensterngasse 37, A-1070 Wien, Austria

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ATP architects engineers is one of Europe’s largest and most renowned Inte­grated Design offices. It employs 450 people in 8 subsidiaries in Germany, Austria, Switzerland and CEE. As specialists in retail and enter­tainment buildings, ATP aims to create inno­ vative and intelligent solutions of sustainable quality. Integrated Design has been the company’s core competence for 35 years. Experienced inter­disciplinary teams plan simul­taneously in virtual models. They handle all architec­tural design and engineering tasks of a construction project.

Blachere Illumination is a company specializing in the illumination of towns, shopping centers and private places for the end of year festivities. It offers a wide range of LED light decorations: luminous garlands, curtain lights, street decorations … It promotes future technology of energy efficiency and places the highest importance on research and development. With forty years of experience on lighting markets, we have worked in the widest possible range of environments, for both urban space and private setting.

Design is our passion! Branddesigners is a company, which is specialized in shopping center refurbishment and retail design for more than 12 years. The key to each of our projects is a unique and creative idea: we believe that every shopping center must be a distinctive, recognizable landmark. We use cutting-edge computer technologies to create our visions and analyse each concept – using eye-tracking to evaluate both the current state, as well as the after-effects of our implementations. Together with a team of experts, we develop tailor-made solutions for our customers and handle the development of the project from the initial idea through to its completion.

CBRE Global Investors is a global real estate investment management firm with EUR 72 billion in assets under management*. The company sponsors investment programs across the risk/return spectrum for investors worldwide. The CBRE Global Investors EMEA platform, with EUR 28,2 billion of assets under management* is one of the largest and most diversified real estate investment management business. The platform has offices in 15 countries, managing investments in 17 countries across Europe. For more information please visit

Christmasworld – The World of Seasonal Decoration – is the leading inter­national trade fair for festive decorations. Exhibitors from all over the world present the latest trends and products for all festive occasions of the year – including innovative concepts for decorating large spaces and outdoor areas, such as shopping centers – in Frankfurt am Main from 24 to 28 January 2014.

Cineplexx Kinobetriebe GmbH was founded in 1993 as a 100% subsidiary of Constantin Film-Holding GmbH which belongs to the Austrian family Langhammer. Cineplexx emerged in the transition phase during the 1990s when tradi­tional cinemas were closed and multiplex cinemas entered the market. Since 2008 the group has bundled its international business activities under Cineplexx International ltd. It runs 35 cinemas with 235 screens in total, across Austria, Croatia, Serbia, Montenegro and Northern Italy. Total sales reached 120 Mio. euros in 2011 with about 1.100 employees.

Coverpoint Foodservice Consultants

The Barn, 11 Waltham Court Milley Lane, Hare Hatch, Reading RG10 9AA, United Kingdom Phone: +44 18 940 5266 Fax: +44 118 940 5277 Email:

ece Projektmanagement G.m.b.h. & Co. KG Heegbarg 30, D-22391 Hamburg, Germany Phone: +49 40 60606 - 0 Fax: +49 40 60606 - 6230 Email:

EHI Retail Institute Spichernstr. 55 D-50672 Köln, Germany Phone: +49 221 579 93 -32 Fax: +43 221 579 93 -45

EHL Immobilien GmbH Prinz-Eugen-Strasse 8-10, A-1040 Vienna, Austria Phone: +43 1 512 76 90 Fax: +43 1 512 76 90 - 890 Email:

First Christmas by ROSENAU GmbH Blankeneser Bahnhofstr. 7, D-22587 Hamburg, Germany Phone: +49 (0)40 86 64 875 - 0 Fax: +49 (0)40 86 64 875 - 60 Email:

Foundation Recruitment Chancery Place, 50 Brown Street, Manchester, M2 2JG, UK Phone: +44 0161 457 1300 Email:

German Council of Shopping Centers e. V. Bahnhofstrasse 29 D-71638 Ludwigsburg, Germany Phone: +49 7141 38 80 - 83 Fax: +49 7141 38 80 - 84 Email:

Coverpoint are an International Foodservice Consultancy. Since 1993 we have been creating for our Clients, outstanding Retail and Shopping Centre Food Experiences. From Fast Food and innovative Food Courts to the latest Casual Dining clusters, we provide Developers, Landlords, Shopping Centre Managers and Owners with the best advice on ‘how to do food’. We carry out feasibility studies, market analysis, capacity planning and foodservice spatial design. We bring all these skills together as part of your Team to ensure that your Food & Beverage Experience is perfectly matched to your guest’s needs. We do Food! Call us to find out how we can help you.

ECE develops plans, builds, leases out, and manages shopping centers since 1965 and is active in 17 countries. The company is European market leader with 189 managed shopping centers. On an overall sales area of 6 million m2, about 17,500 retail businesses generate 21 billion euros in annual sales. Another 14 shopping centers are currently under construction or planned throughout Europe.

EHI is the scientific institute of the German retail industry. The members of EHI include German and international retail companies and their industry associations, manufac­ turers of consumer and investment goods and various service providers for retail like real estate developers and shopping-center management firms. We research topics relevant to the future of retailing, organize conferences and working groups, operate our own publishing house (e.g. The EHI Shopping-Center Report), and are partners to Messe Düsseldorf in staging the EuroShop, the world's biggest trade fair of investment goods for retail business.

EHL Real Estate Group is one of the leading real estate service providers in Austria and the market leader in the fields of commercial and residential real estate as well as investment properties. Its business activities range from property marketing, property valuation, asset and portfolio management, center management to market research and investment consultancy.

First Christmas by ROSENAU GmbH one of Europe’s leading suppliers of Christmas decorations. We offer a full service including design, production and installation of top quality modern and traditional d ­ ecorations. Our expertise and products are being implemented across the continent and in the Near East.

Foundation Recruitment is Europe’s leading, professional recruitment expert within the field of international shopping centre management. We are the only real estate recruitment business with a specialist team entirely dedicated to the shopping center sector. Our passion, commitment and cross border reach enables us to offer our global clients unrivalled knowledge, understanding and insight. Our extensive network provides us with considerable access to the worlds most talented shopping center professionals. Working across both enclosed and open air assets, our activities sit at the very heart of the modern day, dynamic shopping centre arena. Our instructions and areas of professional expertise range across on site mall management, leasing, asset management and development.

The German Council of Shopping Centers, GCSC, represents the interests of over 770 member companies in the shopping center and commercial real estate industry, including operators and developers, trade representatives, service providers, consultants, investors, and other companies.

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GfK GeoMarketing GmbH Werner-von-Siemens-Str. 9, Building 6508 D-76646 Bruchsal, Germany Phone: +49 7251 9295 100 Fax: +49 7251 9295 290 Email:

Global Real Estate Institute (GRI) 10 Melton Street, London, NW1 2EB, UK Phone: +44 20 7121 5060 Fax: +44 20 7388 8740 Email:

ICSC Europe 29 Queen Anne’s Gate, London SW1H 9BU, UK Phone: +44 20 7976 - 3100 Fax: +44 20 7976 - 3101 Email:

IMMOFINANZ Group Wienerbergstraße 11, A-1100 Vienna, Austria Phone: +43 1 88 090 Email:

KlepieEre 21 avenue Kléber, F-75116 Paris, France Phone: + 33 1 40 67 57 40 Fax: + 33 1 40 67 55 62

Kundörfer Consulting GmbH Frankenweg 5, A-8051 Thal-Graz, Austria Phone: +43 316 / 581 822 Fax: +43 316 / 570 550 Email:

MAPIC The international market for retail real estate Phone: +33 1 79 71 90 00

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GfK GeoMarketing is one of Europe’s largest providers of geomarketing services and products. Our business areas include: Consultancy and research expertise, Market data, Digital maps, RegioGraph. GfK GeoMarketing is a subsidiary of GfK, one of the world’s largest and most renowned market research companies. Drawing on this international network of wide-ranging resources and expertise, GfK GeoMarketing promotes business success and “growth from knowledge”.

The GRI is a global club of senior real estate investors, developers and lenders. Its mission is to help its members build personal relationships and work together in creating rewarding opportunities. The GRI runs its activities through a collection of annual meetings focussed on different regions of the world since 1998. If building close relationships with the driving elite of the real estate industry at the most senior levels can be useful, we welcome you to join us.

The International Council of Shopping Centers is the global not-for-profit trade association for the shopping centre industry with over 60,000 members from more than 80 countries worldwide. Our members include Owners / Developers, Retailers, Investors, Architects, Shopping centre managers, Retail consultants and other real estate professionals.

The IMMOFINANZ Group is one of the five largest listed property companies in Europe. The company comprises 1,678 standing investments with a carrying amount of approx. EUR 8.5 billion. The core business of IMMOFINANZ covers the acquisition and management of investment properties, the realisation of development projects and the sale of objects in the retail, office, logistics and residential segments. More:

A leading shopping center property company in Europe, Klépierre combines development, rental, property and asset management skills.Its portfolio is valued at 16.2 billion euros on June 30, 2013 and essentially comprises large shopping centers in 13 countries of Continental Europe.Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. The largest shareholders are Simon Property Group (28.9%), world leader in the shopping center industry, and BNP Paribas (21.9%). Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and is included into the SBF 80, EPRA Euro Zone and GPR 250 indexes.

Building upon years of international experience in retail and extensive location expertise for many CEE/SEE countries as well as Austria and Germany, Kundörfer Consulting advises its customers on all retail expansion and retail property questions. Targeting retailers and companies active in the real estate market, Kundörfer Consulting offers both solutions for strategic issues and their implementation.

MAPIC ( is the key meeting point for 2,430 retailers looking for partners, and 2,300 property developers and owners looking for retailers to enhance their sites. MAPIC delivers 3 days of tailored meetings, expert-led conferences and a premium exhibition for industry leaders targeting all types of retail property and brings together 8,200+ participants from 69 countries. The 20th edition will take place at the Palais des Festival of Cannes, France, from 19-21 November 2014.

MEC METRO-ECE Centermanagement GmbH & Co KG Am Albertussee 1, D-40549 Düsseldorf, Germany Phone: +49 211 30153 -101 Fax: +49 211 6886 4973 -101 Email:

Messe Frankfurt Messe Frankfurt Exhibition GmbH Ludwig-Erhard-Anlage 1 D-60327 Frankfurt am Main, Germany Phone: +49 69 75 75 - 0 Email: MFI mfi management für immobilien AG Bamlerstrasse 1, D-45141 Essen, Germany Phone: +49 201 820 810 Fax: +49 201 820 81 11 Email:

MK Illumination Trientlgasse 70, A-6020 Innsbruck, Austria Phone: +43 512 20 24 30 - 0 Fax: +43 512 20 24 33 Email:


France, Germany, Italy, Poland, Portugal, Spain

Calle Francisca Delgado nº 11 5º Planta (Núcleo 2), 28108, Madrid Phone +34 91 490 22 00 Fax +34 91 490 23 01

PayLife Bank GmbH Marxergasse 1B, A-1030 Vienna, Austria Phone +43 1 717 01 - 0 Fax: +43 1 717 01 - 3000

MEC METRO-ECE Centermanagement GmbH & Co. KG is a joint venture of METRO GROUP and ECE. MEC is Germany’s leading centre management company for retail warehouse oriented shopping centers. It is responsible for managing, operating, leasing, developing and marketing of currently 38 shopping centers in Germany in which more than 1.300 tenants achieve an annual turnover of €2.7 billion on a sales area of 900.000 m2.

Messe Frankfurt is Germany’s leading trade-fair organiser. 578,000 sq m of exhibtion ground are currently home to ten exhibition halls and an adjacent Congress Center. Events “made by Messe Frankfurt” take place at more than 30 locations around the globe and cover the fields of consumer goods, textiles, architecture, technology & design, and automotive technology.

The mfi management fuer immobilien AG (mfi) was founded in 1987 and is the second largest German shopping centre company. Since 2012, mfi partners with UnibailRodamco (Paris), Europe’s largest listed real estate company. With the joint partnership mfi/Unibail-Rodamco pursue a structured growth of their portfolio and aim specifically at expanding their market presence in Germany. With over 500 employees in Germany mfi/Unibail-Rodamco covers the entire value chain from project development, planning and construction services up to long-term facility and asset management as well as portfolio construction. Additional services include refurbishment and project management. The Essen-based company currently operates on 26 shopping centers, with six of them in its own portfolio. In addition, mfi/Unibail-Rodamco has three shopping center projects in development, namely in Osnabrueck, Recklinghausen and Moenchengladbach. These owned asset projects focus on creating a unique customer experience and innovative customer service measures. Overall, the mfi AG manages approximately 3,000 retail leases.

At MK Illumination we aspire to create exceptional conceptual festive lighting for our partners. Our commitment to design, innovation, technical excellence and sustainable solutions coupled with our local knowledge and a global outlook allows us to create tailored, specially handcrafted illumination to suit our client’s exact wishes and thus strengthen their brand and image. In keeping with its philosophy of being a regional company with a global reach, MK Illumination maintains independently run subsidiaries in 28 countries, allowing each business to benefit from local knowledge, customs and networking. The company provides a comprehensive service in three main areas: Retail Real Estate, Leisure and Public Spaces. We have a passion for enlightening your vision! For further information visit us at:

NEINVER is a leading international property company that focuses its business on property development, asset management and fund management. With more than 40 years of experience, NEINVER has reinforced its position in the European market by managing 15 outlet centres with a total of 311,600 sq m of GLA, under the FACTORY and The Style Outlets brands. NEINVER is now the second-largest operator of outlet centers in Europe (2012 ICSC ranking) and the company has being recognized by main inter­ national brands as the second outlet manager to trust in (FOC Performance Report Europe 2013). NEINVER manages the IRUS European Retail Property Fund and nearly 500,000 sq m of retail space, 2,000 shops and 900 of the finest brands in Spain, France, Italy, Germany, Portugal and Poland.

PayLife is the market leader and number one choice for cashless payments in Austria. PayLife is synonymous with convenient, simple and secure card payments as well as customer focus and innovation. Whether credit- and prepaid card, POS Terminal, e-commerce or Quick, the Electronic Purse, PayLife offers individual and comprehensive products to meet all needs. With PayUnity, PayLife is the only provider for e-commerce and POS payments from one source. In 11 countries PayLife offers its customers total solutions for all branches. PayLife. Bringing life to your card.

2 | 2014 ACROSS 27

Polish Council of Shopping Centres ul. Nowogrodzka 50 lok. 448 00-695 Warszawa Poland TEL. + 48 22 629 23 81 FAX. + 48 22 629 23 81

Redevco B.V. Wibautstraat 224 1097 DN Amsterdam, The Netherlands Phone: +31 20 599 6262 Fax: +31 20 599 6263 Email: Twitter: @Redevco

Redevco is an independent, pan-European real estate investment management company specialised in retail property. The more than 500 assets under management are spread across the strongest retail concentrations in the UK, France, Belgium, the Netherlands, Germany, Spain, Portugal, Switzerland and Austria. At present we offer real estate solutions for more than 1,000 retailers.

Reinhard Winiwarter Winery Obere Hauptstrasse 19, A-3552 Stratzing/Krems Business Adress: Rotenturmstrasse 17, A-1010 Vienna, Austria Phone: +43 1 533 32 60 Fax: +43 1 533 32 60 10 Email:

We like authentic, pure, and simple things. This awareness flows into all our wines. In a world that is increasingly complex, we stand for an emphasis on fine, regional characteristics, as well as simple and concise product design.Grüner Veltliner is our most important variety and it is our main focus. Zweigelt and Chardonnay round out our portfolio.

SES Spar European Shopping Centers GmbH Söllheimer Strasse 4, A-5020 Salzburg, Austria Phone: +43 662 4471 0 Fax: +43 662 4471 7199 Email:

SES – No. 1 in Austria and Slovenia – is specialized in developing, constructing and managing first-class retail real estate at an international level. The company provides complete service from development to center management in Central, Southern and Eastern Europe. Shopping malls managed by SES are among the very best the industry has to offer.

sma standort marketing agentur gmbH Rotenturmstrasse 17, A-1010 Vienna, Austria Phone: +43 1 533 32 60 - 0 Fax: +43 1 533 32 60 - 10 Email:

sonae sierra Lugar do Espido,Via Norte 4471-909 Maia, Portugal Phone: +351 22 948 7522 Email:

TIAA Henderson Real Estate 201 Bishopsgate, London EC2M 3BN Phone: +44 20 3727 8000 Fax: +44 20 3727 8001 Email:

All figures as at 31 December 2013.

28 ACROSS 2| 2014

Polish Council of Shopping Centres (PRCH) is a non-profit association that represents more than 200 companies operating on the commercial real estate market. PRCH operates in Poland since 2003 and is the Polish national partner of the International Council of Shopping Centers (ICSC). For over a decade, PRCH has been actively supporting the development of shopping centres and high streets industry in Poland. The association provides essential market data, creates networking op­portunities and conducts educational activities for retail professionals.

We specialize in fulfilling the marketing and communication needs of retail and commercial real estate. Our scope comprises pro­­j­ect development services as well as drafting and implementation of marketing and communi­cations for operational properties. Our goal is to turn retail locations into strong and appealing regional brands.

Sonae Sierra is the international shopping centre specialist that is passionate about bringing innovation and excitement to the shopping industry. Our integrated approach to the shopping center business includes the ownership, development and management activities. This strategy allowed us to develop a recognized unique know-how which we use for our shopping centres, as well as third-parties projects and operating shopping centers.

TIAA Henderson Real Estate (TH Real Estate) is an established investment management company with specialisation in real estate equity and debt investing worldwide. As one of the largest real estate managers in the world, It has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. With a focus on the retail, office, logistics, debt and multi-family housing sectors, Launched in April 2014, the company has a dedicated global presence with offices across Asia and Europe, managing c.£16bn of real estate assets across c.50 funds and mandates. Its alliance with TIAA-CREF in North America increases its global AUM to c.£51bn.


Cambridge, Stockholm, Warsaw, Sofia, Budapest, Helsinki

Vine Farm, Up Street, Bardwell Suffolk, IP31 1AA, UK Phone: +44 1359 250208 Fax: +44 1359 250228

TriGranit Management Corporation Váci út 3. 1062 Budapest, Hungary Phone: +36 1 374 6516 Fax: +36 1 374 6571 Email:

ULI – Urban land institute Germany/Austria/Switzerland

Europa-Allee 22 D-60327 Frankfurt am Main, Germany Phone: +49 696 062 7181 Fax: +49 69 768 067 9181 Email:

Union Investment Real Estate GmbH Valentinskamp 70 / EMPORIO D-20355 Hamburg, Germany Phone: +49 40 34 919-0 Fax: +49 40 34 919-4191 Email:

Zumtobel Licht GmbH Donau-City-Strasse 1, A-1220 Wien, Austria Phone: +43 1 258 26 01 - 0 Fax: +43 1 258 26 01 - 982 845 Email:

Specialists in creating value and ROI, Toolbox Marketing employ passion, experience, innovation and creativity to drive retail destination marketing throughout Europe. Active in 16 countries with creative hubs in Sweden, Poland, Bulgaria, Hungary, Finland and UK, the Toolbox Marketing specialist teams create, direct, implement and evaluate all aspects of the marketing mix in both B2B and B2C sectors.Twelve years in the business and an un­shakable thirst for innovation enable us to maximise brand development and customer experience using an array of multi-media and multi-channel marketing techniques.

TriGranit Management Corporation (TGM) is a 20 year old real estate consultancy company that is offering a wide scope of services that range from asset management services, retail property management, retail leasing, marketing, commercialisation, commercial property management, facilities management, health leisure & hospitality to detailed financials, adapted to fit the individual needs of our clients. TGM presently operates a network of 8 Central and East European (CEE) offices and in recent months has expanded to its operations to encompass the Romanian, Bulgarian, Macedonian, Armenian and Chinese markets, where it spearheads new and exciting ventures in the property sector. TGM operates in 14 different countries globally including the middle-east and China. The blend of a portfolio with almost 1 000 000 sqm of retail property under management and leasing, TGM has instructions on over €3 billion of assets in 29 current retail, office and leisure projects. TGM welcomes over 60 million visitors every year, supporting the success of more than 1,500 international tenants within the leasing portfolio.

ULI – the Urban Land Institute – is a non-profit research and education organisation supported by its members. Founded in Chicago in 1936, the institute now has over 30,000 members in 95 countries worldwide, representing the entire spectrum of land use and real estate development disciplines – private and public. In Europe, we have over 3,000 members supported by a regional office in London and a branch in Frankfurt for the German, Austrian and Suisse market. ULI brings together leaders with a common commitment to improving professional standards, seeking the best use of urban land and following excellent practices. ULI is a think tank, sharing knowledge through discussion forums, research and publications. By building and sustaining a diverse network of local experts, we are able to address the current and future challenges facing Europe’s cities.

Union Investment is a leading international investment company specializing in open-ended real estate funds for private and institutional investors. Union Investment has assets under management of some €23 billion in fourteen real estate funds. Active in the property investment business for 48 years, Union Investment operates today in 23 countries around the world. In addition to office space and business parks, the Hamburg-based company is investing in business hotels, logistics properties and shopping centers. Union Investment entered the retail sector at an early stage, allowing the company to secure a strategic position in this growing area. The result is a high-quality portfolio presently comprising 37 shopping centers in Germany, Austria, Sweden, Belgium, France, Poland, Italy, Spain and Turkey, with a current market value of some €6 billion.

Zumtobel, a company of the Zumtobel Group, is an internationally leading supplier of integral lighting solutions for professional indoor and outdoor building lighting applications. For more than 50 years, Zumtobel has been developing innovative, custom lighting solutions that meet extremely exacting requirements in terms of ergonomics, economic efficiency and environmental compatibility and also deliver aesthetic added value.

2 | 2014 ACROSS 29

Media Owner: ACROSS Medien- und Verlags GmbH 1010 Vienna, Austria Rotenturmstrasse 17 Phone: +43 1 533 32 60-80

and commentaries from leading experts. The magazine is published entirely in English, with an exclusive circulation of 18,000 copies in 42 European countries, reaching the industry’s decision makers directly.

20354 Hamburg, Germany Gorch-Fock-Wall 3 Phone: +49 40 339 62-690

Editor-in-Chief: Heinz Erdmann

Publisher: Reinhard Winiwarter

Assistant Editor-in-Chief: Claudia Aigner

Stephan Jung

Art-Director: Klaus Rauch

ACROSS is the leading European retail real estate magazine. This independent magazine informs about the latest projects and brings relevant news in top-quality to readers in the sector on approx. 100 pages. ACROSS also provides political, economic, and legal information. All this is rounded off by country profiles, company and personal portraits, information on trends in retail and catering sectors, consumer issues,

Advertisements: Reinhard Winiwarter

ACROSS Subscription: EUR 119,00 for 6 issues (1 year)

Cover: sma, Prospektus Nyomda

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ACROSS Strategic Partners - Our direct line to the industry Many industry players, experts, and leading companies in the retail real estate sector have supported us in word and deed in the preparation of this edition of ACROSS. We would like to take this opportunity to thank all of our strategic partners, guest authors, and suppliers of ideas, without whom it would be nearly impossible to create this informative magazine and make it so relevant to the industry.

Networking Partners:

Swiss Council of Shopping Centers

European Factory Outlet Centres Observatory

30 ACROSS 2| 2014

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Locations are like babies – they need lots of attention! We’ll take care of your darlings. We’ll give them attention, raise them, teach them to speak, and make them strong and confident. We have specialized successfully in strategy development, location marketing and communication management for real estate and regions. Our services include both those in the area of project development and those for the development and implementation of marketing and communications services for ongoing operations. Developing locations and regions into strong brands that evoke a high degree of affinity is our goal and it is what we excel at.

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“ACROSS – European Retail Real Estate Magazine” is the only international and independent medium for the shopping center industry in Europe. The magazine is published six times a year entirely in English, and is distributed in 42 European countries directly to the decision makers of the retail real estate sector.

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