For many decades, properties have thrived when used for their originally intended purpose. However, as lifestyles and shopping behaviours evolve over the years, the original concepts might not always continue to deliver as initially envisioned. Over the long run, this may affect the economic viability of the asset.
Rethinking rental concepts specific to the location and staying open to new ideas can pave the way for creative and successful solutions. Jagdfeld Real Estate benefits from its holistic and interconnected approach across asset classes. Conversion is the operative term here: Retail spaces transform into leisure, dining, office, or varied service areas. Hotel spaces evolve into educational facilities.
Here are two recent examples from the current portfolio managed by Jagdfeld Real Estate:
Plaza Frankfurter Allee in Berlin
Jagdfeld Real Estate is taking an unusually creative path in re-letting its Berlin office, retail, and commercial building „Plaza Frankfurter Allee“. The spaces formerly occupied by an Hotel will now host the private university „IU Internationale Hochschule Berlin“. Over an area of 5,600 m², plus an additional 300 m² of storage space, extensive renovations are underway to establish new lecture and seminar rooms.
The “IU Internationale Hochschule” is a private, state-recognised university with over 27,000 students who can choose from 80 Bachelor’s, Master’s, and MBA programmes across 17 locations.
„Plaza Frankfurter Allee“ accommodates more than 50 tenants across 42,200 m² of office, retail, and dining spaces and offers 700 car parking spaces. Jagdfeld Real Estate from Düren has been managing this property in the trendy Friedrichshain district of Berlin for an investment consortium for over 24 years.
For the latest updates on the renovation, please click here:
In June 2021, the „Kleine Riesen“ kindergarten opened its doors, alleviating the pressing demand for childcare spaces in the area. The shopping centre, managed by Jagdfeld Real Estate until the end of 2021, now provides 99 coveted childcare and nursery spots. Where once the fifth floor was home to the Karstadt department store, there are now three kindergarten and two nursery groups spread over approximately 1,000 m². An added delight for the children is the expansive 700 m² terrace, designed specifically for play and recreation, with direct access from each group room. Essential facilities like preparatory, sleeping, and changing rooms are included, along with an 80 m² multipurpose room suitable for sports and gymnastics. Expansive windows ensure the „little giants“ and their educators enjoy abundant light and fresh air.
For the latest information about City Galerie Aschaffenburg, please click here: