module-contentConversion
Real estate properties have been very successful in their original purpose for many decades. However, as people’s lifestyles and shopping habits have changed over the years, the original concepts often no longer work as planned. In the long term, this may be reflected in the profitability of the property.
Rethinking rental concepts in a location-specific and open way can help to find creative and successful solutions. Jagdfeld Real Estate benefits from its networked approach across asset classes. Conversion is the keyword: retail space becomes leisure, restaurant, office or service space of various kinds. Hotel space becomes educational facility space.
Here are two recent examples from the portfolio currently managed by Jagdfeld Real Estate:
Plaza Frankfurter Allee in Berlin
Jagdfeld Real Estate is taking an unusually creative approach to the new letting of its “Plaza Frankfurter Allee” office, retail and commercial building in Berlin: the private university “IU International University” is moving into the premises of the former Arcadia Hotel. New teaching and seminar rooms are being built on an area of 5,600 m² plus 300 m² of storage space as part of extensive conversion work.
IU International University is a private, state-recognized university of applied sciences with over 27,000 students who can choose from 80 Bachelor’s, Master’s and MBA programs at 17 locations.
The “Plaza Frankfurter Allee” accommodates over 50 tenants in 42,200 m² of office, retail and restaurant space and offers 700 parking spaces. Düren-based Jagdfeld Real Estate has been managing the property in Berlin’s trendy Friedrichshain district for a group of investors for over 24 years.
The latest information on the conversion is shown here:
City-Galerie Aschaffenburg
The “Kleine Riesen” kindergarten opened in June 2021, alleviating the shortage of daycare places in the area. In the shopping center, which is managed by Jagdfeld Real Estate until the end of 2021, 99 nursery and crèche children were able to get a much sought-after childcare place. Where Karstadt once resided on the fifth floor, there are now the three kindergarten and two crèche groups, which will have around 1,000 m² of space. There is also plenty of space to play and run around on the 700 m² terrace, which has been specially designed for this purpose. There is direct access to the terrace from every group room. It also includes an 80 m² multi-purpose room that can be used for sports and gymnastics. Large windows provide the “little giants” and their teachers with plenty of light and air.
Current information about the City Galerie Aschaffenburg can be found here:
https://www.jagdfeld-realestate.de/en/retail/references-contact-persons/aschaffenburg-city-gallery/
