TOM June 2020
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T<br />
TOPS<br />
M<br />
OF THE MONTH<br />
O<br />
Essential News About The Players In<br />
The Retail Property Market In Germany<br />
THE HOTTEST DEALS +++<br />
INTERVIEWS +++ STATEMENTS<br />
+++ PARTICULARS +++<br />
ANALYSES +++ PROJECTS<br />
presented by HI-HEUTE.DE<br />
<strong>June</strong> <strong>2020</strong><br />
GfK has monitored retail sales in the EU countries. <br />
Germany is EU tail light<br />
for stationary shopping<br />
New GfK survey on retail trade in Europe<br />
According to the latest GfK<br />
study, the share of retail sales<br />
in private consumption in the<br />
27 EU countries will fall by<br />
1.0 percent in 2019. This means<br />
that EU citizens will spend<br />
an average of 29.9 percent of<br />
their money on stationary retail.<br />
Germany occupies last<br />
place.<br />
There, only 23.7% of consumer<br />
spending is spent on stationary<br />
retail. Online retailing now occupies<br />
a strong position in many<br />
European countries, as the declining<br />
share of retail sales in<br />
private consumption shows.<br />
„In Europe, the stationary retail<br />
sector is facing new challenges“,<br />
explains GfK retail expert<br />
Dr. Johannes Schamel. „A new<br />
ecological awareness is awakening<br />
among the population<br />
and the issue of sustainability<br />
is playing an increasingly important<br />
role. Stationary retailers<br />
must increasingly address these<br />
issues and position themselves<br />
in future in such a way that this<br />
represents a competitive advantage<br />
in competition with online<br />
retailing“.<br />
Against this background, GfK‘s<br />
Geomarketing division has analyzed<br />
the key indicators of the<br />
European retail sector for the<br />
year 2019. In addition to a topic<br />
page on the effects of CO-<br />
VID-19 on the retail sector, the<br />
„Retail in Europe“ study offers<br />
comprehensive trend analyses<br />
for 32 European countries.<br />
In 2019, each citizen of the<br />
EU-27 states had an average of<br />
16,888 euros in purchasing power<br />
at their disposal. This represents<br />
a nominal increase of 3.4<br />
percent compared to the previous<br />
year. Within the EU, Latvia<br />
(+8.5 per cent), Lithuania (+7.6<br />
per cent) and Estonia (+6.0 per<br />
cent) recorded the largest increases<br />
in purchasing power,<br />
which can be attributed, among<br />
other things, to robust economic<br />
growth, tax breaks and an<br />
increase in the minimum wage.<br />
It is true that prices rose somewhat<br />
faster at the end of last year,<br />
driven by price increases for<br />
services.<br />
Nevertheless, inflation for the<br />
year 2019 as a whole was only<br />
1.4 percent in the EU-27 countries,<br />
well below the European<br />
Central Bank‘s target of two<br />
percent.
Page 02 T O M<br />
NEWS <strong>June</strong> <strong>2020</strong><br />
Breuninger Nuremberg<br />
undergoes major conversion<br />
11,000 square metres of new shopping experience<br />
More fashion, more premium<br />
brands and two new restaurants<br />
- the fashion and lifestyle<br />
company Breuninger is<br />
continuing to invest in stationary<br />
retail in addition to its<br />
online business and is successively<br />
converting its premises<br />
in Nuremberg by September<br />
<strong>2020</strong>.<br />
Customers expect a greatly expanded<br />
range of premium and<br />
designer brands and two new<br />
Breuninger catering concepts.<br />
More than 11,000 square metres<br />
of sales space will be redesigned<br />
and all conversion<br />
measures are to be completed<br />
by the beginning of September<br />
<strong>2020</strong>. The store will remain<br />
open during the entire period<br />
and will offer comprehensive<br />
protection within the framework<br />
of the Breuninger hygiene<br />
standard developed in-house,<br />
ensuring a pleasant stay and a<br />
safe shopping experience at the<br />
same time.<br />
The opening of the converted<br />
Breuninger in Nuremberg is rebuilding, then presents an extended<br />
range and new restaurants. Photo: E. Breuninger GmbH & Co. KG<br />
department store, whose new<br />
interior design was created<br />
by the internationally renowned<br />
architectural firm Blocher<br />
Partners, is scheduled for the<br />
beginning of September. Breuninger<br />
has been represented in<br />
Nuremberg with its own department<br />
store since 2003. This<br />
year‘s conversion is a strategic<br />
decision. Breuninger CEO Holger<br />
Blecker: „Nuremberg is an<br />
important location for us; we<br />
feel very comfortable here and<br />
have become at home. Even in<br />
challenging times such as these,<br />
we firmly believe in the stationary<br />
retail sector, which inspires<br />
people with unique product<br />
ranges, a variety of attractive<br />
brands, personal services and<br />
gastronomy offers. It is therefore<br />
a logical consequence for<br />
us to provide our store in Nuremberg<br />
with a correspondingly<br />
high-quality upgrade.<br />
Successful start for<br />
My Outlet & Shopping Center<br />
New brands and gastronomy: Something is happening in Bremerhaven<br />
The Mein Outlet & Shopping<br />
Center in Bremerhaven,<br />
which opened on 20 April, can<br />
look back on a successful start<br />
despite the restrictions imposed<br />
by Corona. A new gastronomy<br />
tenant has also been<br />
announced.<br />
In the meantime all shops are<br />
occupied. Eleven new outlet<br />
brands have already opened their<br />
shops, and well-known tenants<br />
from the center have also adapted<br />
a large part of their product<br />
range to the new outlet concept.<br />
Four other brand partners are<br />
working at full speed behind the<br />
scenes on a new opening. The<br />
outlet has a total of 39 units.<br />
The cult brand GOSCH Sylt<br />
will soon be bringing maritime<br />
delights to Bremerhaven<br />
and expanding the gastronomic<br />
offer with authentic Sylt-style<br />
cuisine. It will be accompanied<br />
by a particularly extensive wine<br />
My Outlet & Shopping Center Bremerhaven got off to a good start.<br />
<br />
Photo: My Outlet & Shopping Center Bremerhaven<br />
list. With GOSCH, the center<br />
has gained a partner who will<br />
revitalize the area of the former<br />
Italian „Da Vinci“ and meet the<br />
customer demand for a seafood<br />
offer which has been expressed<br />
many times in the past.<br />
The new restaurant of fish and<br />
delicatessen professional Jürgen<br />
Gosch is currently being built<br />
on an area of almost 400 square<br />
metres. The spacious interior<br />
and additional seats on the piazza<br />
make the offer attractive all<br />
year round. However, the terrace<br />
seats in the outdoor area are<br />
special. There, customers will<br />
soon be able to enjoy the sun‘s<br />
rays or balmy summer nights directly<br />
on the dyke. The opening<br />
is planned for late summer <strong>2020</strong>.<br />
The opening will be communicated<br />
in good time via the various<br />
channels.<br />
Shoe company<br />
Deichmann wants to<br />
hold on to its branch<br />
network<br />
The shoe entrepreneur Heinrich<br />
Deichmann announces that<br />
he will not give up any of his<br />
company‘s locations because<br />
of the Corona crisis. He wants<br />
to settle the dispute over rents.<br />
During the lockdown, he had lived<br />
secludedly with his family,<br />
but he drove to the office at the<br />
Essen headquarters every day,<br />
shoe retail entrepreneur Heinrich<br />
Deichmann told the Funke<br />
media group in an interview.<br />
During the peak phase of the<br />
crisis, his company lost almost<br />
its entire turnover. 98 percent of<br />
the 4200 shops in 27 countries<br />
were closed. The online business<br />
could not nearly compensate<br />
for store closures of this<br />
magnitude. „The worst thing“,<br />
said Deichmann, „was that we<br />
did not know how long this state<br />
of affairs would last“.<br />
Fashion chain<br />
Esprit plans to close<br />
50 stores<br />
The Esprit fashion group wants<br />
to close 50 stores, half of its<br />
stores in Germany. And cut<br />
more than 1000 jobs - including<br />
in administration. Esprit, with<br />
its headquarters in Ratingen, is<br />
now in insolvency proceedings.<br />
Like many others, the fashion<br />
chain is suffering from weeks of<br />
store closures due to the Corona<br />
pandemic.<br />
Walthcap has<br />
restructured<br />
management team<br />
In connection with the announced<br />
departure of Dr. Gabriele<br />
Volz at the end of the year, the<br />
Real Asset and Investment Manager<br />
Wealthcap is reorganizing<br />
its management team. Achim<br />
von der Lahr will become managing<br />
director of the company<br />
and will complement Dr. Rainer<br />
Krütten and Sven Markus<br />
Schmitt. Von der Lahr has been<br />
with Wealthcap since November<br />
2019 as General Representative<br />
and Member of the Executive<br />
Board. Prior to this, he was Head<br />
of Multinational Corporates in<br />
the Corporate & Investment<br />
Banking division of UniCredit<br />
Bank AG. In future, he will be<br />
responsible for sales, product<br />
management and marketing as<br />
Managing Director.
Page 03 STATEMENT <strong>June</strong> <strong>2020</strong><br />
T O M<br />
TOP STATEMENT<br />
JUNE<br />
Lars Jähnichen,<br />
Managing Director<br />
IPH Handelsimmobilien,<br />
Munich (Germany):<br />
„Only through the willingness<br />
to make countercyclical<br />
investments can retail<br />
real estate be repositioned<br />
and thus emerge from<br />
these difficult times stronger.<br />
In this respect, the current<br />
crisis also has something<br />
catalytic about it: it<br />
accelerates developments<br />
that would otherwise have<br />
taken the market years.“
OPENING IN<br />
2022<br />
www.westfield-hamburg.de<br />
www.unibail-rodamco-westfield.de
Page 05 T O M<br />
NEWS <strong>June</strong> <strong>2020</strong><br />
Sony Center: Architectural<br />
icon celebrates anniversary<br />
Further development of the Berlin mixed-use property planned<br />
On <strong>June</strong> 14, 2000, the Sony<br />
Center - built according to<br />
the designs of the German-<br />
American star architect<br />
Helmut Jahn - was opened.<br />
Thanks to its futuristic architecture,<br />
open design and use<br />
of natural resources such as<br />
light and air, the Sony Center<br />
is a symbol of the culture<br />
of change in Berlin - and has<br />
long since become an internationally<br />
renowned landmark<br />
of the capital.<br />
The Sony Center was opened<br />
as a trend-setting building complex<br />
that combines working,<br />
living, entertainment and retail<br />
under one roof. Today, with its<br />
spectacular, light-flooded roof<br />
construction and thanks to a<br />
wide range of cultural activities<br />
and ultra-modern office space,<br />
it is well established in the capital.<br />
ATRIZIA AG has sold a portfolio<br />
of seven retail properties<br />
for 96 million euros to the real<br />
estate investment company<br />
Captiva.<br />
The portfolio is leased longterm<br />
and 100 percent to the DIY<br />
chain OBI and has a total rental<br />
space of 71,000 square meters.<br />
The sale follows the conclusion<br />
of several lease extensions for<br />
the portfolio.<br />
Securing the<br />
long-term future<br />
The average remaining term of<br />
the rental agreements has thus<br />
been extended to 12.9 years.<br />
The properties are located at established<br />
sites in Vechta, Neuss,<br />
Schwelm, Siegen-Weidenau,<br />
Haiger, Pirna and Stadtbergen.<br />
Philipp Schaper, Head of Transactions<br />
Europe at PATRIZIA:<br />
In its anniversary year, Berlin‘s Sony Center is setting off into the<br />
future. <br />
Photo: Oxford Properties<br />
„We are pleased that together<br />
with OBI we have succeeded in<br />
securing their future at each of<br />
the locations in the long term.<br />
While OBI was able to create a<br />
It is to Helmut Jahn‘s credit<br />
that the design of the Sony<br />
Center blends in very well with<br />
Berlin‘s Mitte and Potsdamer<br />
Platz, meets urban planning requirements<br />
and gives the building<br />
ensemble an artistic face.<br />
The main feature of Helmut<br />
Jahn‘s design is the oval shape<br />
of the roofed, light-filled forum,<br />
which perfectly highlights<br />
its generous open space.<br />
PATRIZIA sells OBI<br />
portfolio for 96 million euros<br />
Seven properties sold after asset management measures<br />
PATRIZIA has sold seven OBI stores, including the store in Vechta.<br />
<br />
Photo: PATRIZIA<br />
sustainable and stable environment<br />
for its business, we were<br />
able to realize added value for<br />
our customers through this<br />
sale“<br />
Gabriele Volz<br />
succeeds Andreas<br />
Muschter at<br />
Commerz Real<br />
Gabriele Volz (WealthCap)<br />
will succeed Andreas Muschter<br />
at Commerz Real. She will<br />
take over the job as CEO from<br />
January. Volz had been Managing<br />
Director at WealthCap since<br />
2009. She is also a member<br />
of the board of directors of the<br />
professional association RICS<br />
and a member of the executive<br />
committee of ZIA. Muschter<br />
had headed the real estate division<br />
of Commerzbank since<br />
2013. His move as CFO to The<br />
Student Hotel, a developer and<br />
operator of hotels, student apartments<br />
and coworking spaces,<br />
became known at the beginning<br />
of the month.<br />
Union Investment<br />
Real Estate expands<br />
management team<br />
Union Investment Real Estate<br />
GmbH is expanding its top management<br />
team. Subject to the<br />
approval of BaFin, Christoph<br />
Holzmann (43) will be appointed<br />
to the management of the<br />
Hamburg-based real estate investment<br />
manager with effect<br />
from July 1. As Chief Operating<br />
Officer (COO), the business<br />
graduate will assume responsibility<br />
for the further development<br />
of business processes in<br />
Union Investment‘s fast-growing<br />
real estate division. His<br />
tasks include in particular the<br />
continuous improvement of the<br />
structural and process organisation.<br />
As a driving force for<br />
change and optimisation, he will<br />
place particular emphasis on digital<br />
transformation.<br />
Digital Real Estate Industry<br />
Day had over<br />
3000 participants<br />
„As a result of the corona crisis,<br />
we will not recognize our dynamic,<br />
lively inner cities everywhere“,<br />
said ZIA President Dr.<br />
Andreas Mattner at the opening<br />
of the first hybrid day of the real<br />
estate industry in front of 50<br />
invited guests in the ZIA capital<br />
city studio and around 3,000<br />
viewers via the digital channels.<br />
The Real Estate Industry Day<br />
is once again the leading event<br />
for politics and the industry this<br />
year.
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Page 07 T O M<br />
GUEST CONTRIBUTION<br />
<strong>June</strong> <strong>2020</strong><br />
Shopping Mall in the Living Room<br />
Guest Contribution by York Friedrich Stahlknecht, Head of Retail at Drees & Sommer<br />
„Hey, Siri, order this from my<br />
grocery list...“ New technologies<br />
make it as easy as possible<br />
for consumers to have their<br />
products delivered directly to<br />
their living room. Providing<br />
the appropriate digital offers<br />
is a challenging and time-consuming<br />
task for retailers who<br />
have so far concentrated primarily<br />
on stationary trade. Fit<br />
for online - a concept that has<br />
confronted retailers with difficult<br />
decisions even before the<br />
Corona crisis.<br />
For stationary trade, the Corona<br />
crisis is an existential challenge.<br />
Some retailers are now forced to<br />
expand their distribution channels<br />
to online shops. Others,<br />
on the other hand, recognized<br />
the astronomical growth of online<br />
retailing years ago and have<br />
been focusing on digital activities<br />
ever since. However, what<br />
becomes a major competitive<br />
advantage in the crisis can become<br />
a problem in normal everyday<br />
life: Many retailers have<br />
invested extensively in e-commerce<br />
platforms in the past, but<br />
have ignored the fact that the<br />
online shop alone is not enough<br />
to ensure a positive buying experience.<br />
Reacting to<br />
customer wishes<br />
with flexibility<br />
Online or stationary? A successful<br />
retailer should not ask<br />
himself this question today, he<br />
should ask himself: What does<br />
my customer want? For most<br />
consumers today, shopping is<br />
primarily about speed, flexibility<br />
and convenience. To meet<br />
these needs, retailers have to<br />
sell the goods or services in parallel<br />
via more than one channel<br />
directly to the customer. The<br />
sensible use of new sales channels<br />
and cross-channel presence<br />
is known as a multi-channel<br />
system. In this sales concept,<br />
the customer can choose his<br />
preferred channel and purchase<br />
the products in stationary trade,<br />
in e-commerce, via social media<br />
or by catalogue. In contrast<br />
to the single-channel principle,<br />
in which there is only a single<br />
touch point between customer<br />
and retailer, the channels in the<br />
York Friedrich Stahlknecht, Head of Retail, Drees & Sommer Germany<br />
multi-channel system function<br />
independently of each other. The<br />
prerequisite: a well thought-out<br />
online-to-offline strategy that<br />
links both shopping worlds.<br />
Online shops in city<br />
centres<br />
Not only enabling different<br />
worlds, but also linking them<br />
In trade policy, the omnichannel<br />
principle is referred to as the<br />
„royal league“: The customer<br />
uses several channels for a purchase<br />
transaction, whereby he<br />
can use some of them simultaneously.<br />
Here, shopping in different<br />
worlds is not only made<br />
possible, the different channels<br />
are also linked with each other.<br />
For example, the customer is<br />
made aware of the product via<br />
social media, places it in his<br />
shopping cart in the app and<br />
carries out the ordering process<br />
in the online shop.<br />
The added value of multi- or<br />
omnichannel systems is often<br />
countered by arguments such<br />
as lack of personnel, cost factors<br />
or respect for change processes.<br />
What is often forgotten<br />
here: The customer is king, and<br />
the customer wants variety, entertainment<br />
and convenience in<br />
the shopping experience. The<br />
more channels the consumer<br />
has access to, the better he or<br />
she can find out about products,<br />
do errands on the go and compare<br />
prices regardless of opening<br />
hours.<br />
Iwt is not only the customer<br />
who benefits from cross-channel<br />
shopping: Retailers expand<br />
the availability of their products,<br />
can offer certain goods<br />
channel-specifically, suggest<br />
better offers to the consumer<br />
and thus develop long-term<br />
customer loyalty. However, it is<br />
essential for this loyalty that the<br />
connection between retailer and<br />
consumer does not only take<br />
place in the digital context. In<br />
the meantime, many large online<br />
retailers are opening pop-up<br />
stores or outlets in city centres<br />
to offer their customers a live<br />
experience with the products.<br />
Some shopping centers now<br />
offer augmented reality events<br />
and virtual tools that allow customers<br />
to bring the shopping<br />
experience into their own four<br />
walls and browse through stores<br />
virtually. Whether new retail<br />
concepts are the shopping mall<br />
in the living room or the online<br />
shop in the city center, it is safe<br />
to say that the shopping experience<br />
is not just a matter of the<br />
shopping mall itself: In the future,<br />
stationary or digital will no<br />
longer be an either-or question<br />
T<br />
TOPS<br />
O M<br />
OF THE MONTH<br />
Essential News About The Players In<br />
The Retail Property Market In Germany<br />
IMPRINT<br />
Publisher:<br />
Handelsimmobilien Heute Verlagsgesellschaft<br />
mbH<br />
Address:<br />
Alexanderstraße 16<br />
45130 Essen<br />
Germany<br />
Tel. 0049-201-874 55 28<br />
Web: www.hi-heute.de<br />
Mail: tom@hi-heute.de<br />
Frequency of publication:<br />
monthly<br />
Circulation: approx. 5000 copies<br />
sent by e-mail<br />
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Responsible in terms of press<br />
law: Thorsten Müller<br />
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Page 9 T O M<br />
ANALYSES <strong>June</strong> <strong>2020</strong><br />
Frequencies in retail locations<br />
almost at pre-corona level<br />
GfK measurements at the end of <strong>June</strong> give cause for hope<br />
With the spread of COVID-19<br />
in Germany, the number of visitors<br />
to the retail locations in<br />
city centres, shopping centres<br />
and retail parks fell from the<br />
end of February onwards. However,<br />
according to visitor frequency<br />
measurements carried<br />
out by GfK with wetter.com,<br />
the situation has now eased.<br />
The lowest point was reached in<br />
the week following the start of<br />
the nationwide lockdown from<br />
23 to 29 March, when only 41<br />
per cent of the pre-corona frequency<br />
was recorded. Since the<br />
relaxation of measures to contain<br />
the virus, visitor numbers<br />
in all shopping locations are approaching<br />
the levels seen before<br />
the outbreak of the pandemic.<br />
In particular, retail parks are almost<br />
back to pre-corona levels.<br />
Very strong decline<br />
With the start of the lockdown in<br />
the week from 16 to 22 March,<br />
visitor frequency in Germany<br />
declined very sharply in all<br />
shopping locations. This week,<br />
44 percent fewer people visited<br />
retail locations. With the tightening<br />
of contact restrictions, the<br />
frequency in the week from 23<br />
to 29 March even fell 59 percent<br />
below pre-Corona levels. It is<br />
interesting to take a look at the<br />
federal states here: While visits<br />
in Berlin fell most sharply (-63<br />
percent), the decline was least<br />
pronounced in the surrounding<br />
Brandenburg (-45 percent).<br />
„We monitor the number of visitors<br />
to the individual shopping<br />
locations on a daily basis. There<br />
is no question that the corona<br />
virus has had a strong influence<br />
on the shopping behavior<br />
of Germans - and still does,“<br />
comments Filip Vojtech, GfK<br />
expert for retail and fashion &<br />
lifestyle in the geomarketing<br />
sector. „People have been shopping<br />
less frequently and more<br />
cautiously in stationary stores,<br />
especially since the start of the<br />
lockdown, and at the same time<br />
have increasingly shifted their<br />
purchases to online retailing.<br />
The customers have more desire to shop again.<br />
For retailers, this means that<br />
they have to create incentives<br />
through offers, promotions or<br />
the shopping experience in order<br />
to increase visitor frequency<br />
on site again. Above all, however,<br />
the search for highly frequented<br />
and at the same time<br />
target group-specific locations<br />
plays an even more important<br />
role“.<br />
Shopping centers<br />
suffer the most<br />
If we look at the development of<br />
visitor flows broken down into<br />
city centres, shopping centres<br />
and retail parks, a more detailed<br />
picture emerges. Although there<br />
were declines in visitor numbers<br />
in all three shopping locations,<br />
nationwide shopping centres<br />
(-64 percent in the week from<br />
23 to 29 March) and city centre<br />
locations (-59 percent) were<br />
particularly hard hit. In specialty<br />
shopping centers with a local<br />
supply function for the surrounding<br />
area, the frequency in the<br />
same week was 45 percent below<br />
the pre-Corona level.<br />
„One of the reasons why the<br />
number of visitors in city centres<br />
and shopping centres has<br />
fallen so drastically is that these<br />
shopping locations are mainly<br />
occupied by retailers with<br />
goods for medium and longterm<br />
requirements, which had<br />
to close when the lockdown<br />
began,“ says Dr. Hendrik Wagenseil,<br />
GfK expert for Geodata<br />
Science in the Geomarketing division.<br />
„And even in specialist<br />
retail centres, for example, the<br />
textile retailers and DIY stores<br />
that had rented premises there<br />
had to close. Together with the<br />
declining shopping frequency<br />
of the population, this led to less<br />
frequency. At the same time, the<br />
specialty shopping centers have<br />
taken on a central role in the<br />
provision of basic services together<br />
with the local grocery and<br />
drugstore retail trade“.<br />
With the easing of the measures<br />
introduced and the opening of<br />
retail shops under 800 square<br />
metres in the week from 20 to<br />
26 April, the number of visitors<br />
also rose more strongly again.<br />
Nationwide, the retail frequency<br />
increased by 14 percentage<br />
points compared to the previous<br />
week (to 55 percent of the<br />
pre-Corona level). It has been<br />
growing ever since. In the week<br />
from 15 to 21 <strong>June</strong>, visitor frequency<br />
was only 16 percent<br />
below the pre-corona level.<br />
Among the federal states, Berlin<br />
came in last with 27 percent below<br />
pre-corona level that week.<br />
In Mecklenburg-Western Pomerania,<br />
on the other hand, eleven<br />
percent more visitors were measured<br />
at all shopping locations<br />
than at the end of February.<br />
Figures on<br />
the rise again<br />
If you take a closer look at the<br />
three shopping locations individually,<br />
you will see that<br />
the number of visitors to retail<br />
parks in particular has almost<br />
completely recovered. Nationwide,<br />
only seven percent fewer<br />
people were on the move there<br />
in the week from 15 to 21 <strong>June</strong><br />
than before the pandemic; three<br />
weeks earlier the difference was<br />
only four percent. The figures in<br />
German city centres (-16 percent<br />
in the week from 15 to 21<br />
<strong>June</strong>) and shopping centres (-19<br />
percent) are also continuing to<br />
rise and are approaching precorona<br />
levels again - albeit at a<br />
much slower pace.
From local hero ...<br />
Link your ideas<br />
to our investment<br />
spectrum<br />
As one of Europe’s leading investment managers for<br />
retail property, we are committed to further international<br />
expansion of our portfolio. We are interested<br />
in all types of retail property – from commercial<br />
buildings to retail parks and shopping centres. We<br />
welcome your ideas – let‘s do business!<br />
union-investment.de/realestate<br />
... to shopping star
Page 11 T O M<br />
INTERVIEW<br />
<strong>June</strong> <strong>2020</strong><br />
„Yardi‘s technology roadmap<br />
has produced numerous innovations“<br />
Interview with Neal Gemassmer, Vice President of the software company<br />
The American software group<br />
Yardi, which is also based<br />
in Germany (Mainz), is primarily<br />
engaged in the design,<br />
development and support<br />
of software solutions for investment<br />
and property management<br />
in the real estate<br />
industry. The company offers<br />
comprehensive business solutions<br />
for every segment of the<br />
industry. In an interview, Neal<br />
Gemassmer, Vice President of<br />
the company, talks about the<br />
technological development in<br />
Yardi‘s almost forty-year history,<br />
provides exciting insights<br />
into the latest innovations and<br />
initiatives in the field of energy<br />
efficiency and ventures a<br />
look at the development of the<br />
industry in the next two to five<br />
years.<br />
Yardi started as a small software<br />
start-up and is now in its<br />
fourth decade of company history.<br />
How has the company‘s<br />
technology evolved during<br />
this time?<br />
Neal Gemassmer: A lot has<br />
changed since 1984. Yardi‘s<br />
technology roadmap has produced<br />
numerous innovations.<br />
Our focus has not changed and<br />
remains to meet the evolving<br />
needs of the real estate industry<br />
and to help our customers provide<br />
the best possible service and<br />
improve their business results.<br />
Yardi was one of the first startups<br />
to focus on property management<br />
software. At that<br />
time, the focus was on the core<br />
areas of property management<br />
and accounting. Since then, we<br />
have greatly expanded our product<br />
and service offerings.<br />
We were one of the first real<br />
estate technology companies to<br />
move to the cloud and our SaaS<br />
model has proven to be extremely<br />
successful. With a focus<br />
on mobility, connectivity and<br />
efficiency for users, we now offer<br />
a unique role-based ecosystem<br />
of solutions and interfaces<br />
for key positions in property<br />
management. Whether you are<br />
an asset manager, investment<br />
manager, property manager, or<br />
marketer, Yardi offers a variety<br />
of solutions designed to connect<br />
Neal Gemassmer, Vice President Yardi. <br />
teams throughout the property<br />
lifecycle using a single source<br />
of data.<br />
Today, Yardi employs over<br />
7,000 people worldwide and is<br />
active in more than 80 countries.<br />
The company‘s customers<br />
include investors and operators<br />
of various classes of real estate,<br />
from fund and property management<br />
to commercial real estate<br />
including offices, industrial and<br />
retail properties, co-working<br />
and flexible workplaces, residential<br />
properties and student<br />
housing.<br />
Can you give us an insight into<br />
the latest innovations at Yardi?<br />
What do you think is the<br />
most exciting product in the<br />
pipeline?<br />
Neal Gemassmer: We have<br />
Photo: Yardi<br />
creatively summarized Yardi‘s<br />
technology solutions according<br />
to four essential principles:<br />
- Fully networked property management<br />
and accounting: Core<br />
solutions for property management<br />
and accounting such as<br />
Yardi Procure to Pay for paperless<br />
billing,<br />
- E-Commerce: Café products<br />
that provide a great user experience<br />
for external users such as<br />
prospects or suppliers,<br />
- Operational Performance:<br />
Technologies that improve business<br />
processes, such as actionable<br />
data analysis and<br />
- Building operation: Technologies<br />
that can be connected to<br />
IoT and building infrastructure.<br />
With the optimal combination<br />
of Yardi solutions, our customers<br />
can create a technology<br />
ecosystem that increases satisfaction,<br />
revenue, and operational<br />
and business efficiency.<br />
It is imperative that we enable<br />
our customers to work flexibly,<br />
whether they work on-site or remotely.<br />
We continue to invest in<br />
our mobile apps so that users of<br />
our technology can access their<br />
data easily and role-based on<br />
the go. We also offer apps and<br />
portals targeted at real estate<br />
companies‘ customers and are<br />
constantly developing them further.<br />
Our tenant app is now also<br />
available as a white-label version,<br />
making our app your app.<br />
One of the main topics of recent<br />
times was the introduction<br />
of our new asset management<br />
solution Yardi Elevate. Yardi<br />
Elevate provides detailed operational<br />
information and forward-looking<br />
forecasts with<br />
recommendations for action,<br />
helping teams to improve asset<br />
performance by reducing costs,<br />
minimizing risk and increasing<br />
revenue. Elevate uses portfolio<br />
data and AI to improve operational<br />
performance and is<br />
designed to improve strategic<br />
decision-making in asset management.<br />
How does Yardi differ from<br />
competitors?<br />
Neal Gemassmer: What sets<br />
us apart in the market is the<br />
provision of truly networked<br />
and integrated technologies, all<br />
developed internally and accessible<br />
in real time from a single<br />
cloud-based platform.<br />
It is important to us to bring the<br />
benefits of a fully networked<br />
system, exceptional data security<br />
and low total cost of ownership<br />
to our customers. Apart<br />
from that, we also understand<br />
that some customers want the<br />
option of continuing to use other<br />
technologies. Of course we<br />
are happy to support them in<br />
this.<br />
With Yardi Aspire, formerly<br />
Yardi eLearning, we also offer<br />
our customers a comprehensive<br />
training platform. The Aspire<br />
platform allows for verifiable<br />
knowledge sharing and training<br />
and promotes the personal development<br />
of the employees in<br />
our customers‘ teams.
Page 13 T O M<br />
NEWS <strong>June</strong> <strong>2020</strong><br />
URW has a new<br />
personnel manager<br />
Claudia Karschti replaces Bruno Bittis<br />
On 1 <strong>June</strong> Claudia Karschti<br />
took over responsibility for<br />
Human Resources at Unibail-<br />
Rodamco-Westfield (URW)<br />
Germany.<br />
Claudia Karschti was most recently<br />
with Yum! Restaurants<br />
International as Head of People<br />
& Culture KFC for the region<br />
D-A-CH/Denmark and member<br />
of the management board.<br />
Her previous positions include<br />
HR Business Partner at Fressnapf<br />
Holding and HR Manager<br />
at Santander Consumer Bank.<br />
Claudia Karschti studied social<br />
sciences with a degree in economic<br />
sociology and economic<br />
psychology at the University of<br />
Duisburg-Essen.<br />
Extensive range<br />
of tasks<br />
Claudia Karschti takes over<br />
this task from Bruno Bittis,<br />
who has been with the company<br />
since 2008 and has had<br />
a significant influence on the<br />
New Director of Human Resources at URW Germany: Claudia<br />
Karschti. Photo: KFC According to police, about 40<br />
shops were destroyed during<br />
areas of personnel and organisation.<br />
As head of the Hu-<br />
development and the field of<br />
URW Academy, organizational<br />
the heavy riots in Stuttgart this<br />
weekend, and nine shops were<br />
man Resources team, Claudia corporate culture in Germany.<br />
looted. Among others, the sneaker<br />
store Snipes was affected.<br />
Karschti will be responsible<br />
for all personnel management, In addition, Claudia Karschti<br />
Breuninger was also damaged<br />
recruitment, the further education<br />
and training system via the management team in Germany.<br />
will be part of URW‘s country<br />
and goods were stolen. At the<br />
Gerber shopping centre, one of<br />
the entrances was almost completely<br />
destroyed.<br />
Delf Neumann joins Vapiano<br />
Founder of the Gastro & Soul Group Partner for Germany<br />
The Hildesheim Gastro &<br />
Soul Group, which has been<br />
successful with the freestander<br />
format Cafe Del Sol and<br />
other concepts since 2001, becomes<br />
a new strategic partner<br />
of the investor consortium<br />
around Mario C. Bauer in the<br />
reconstruction of Vapiano in<br />
Germany under the leadership<br />
of founder Delf Neumann.<br />
Delf Neumann from the Gastro<br />
& Soul Group joins Vapiano.<br />
Photo: Vapiano<br />
A few days ago, the group of<br />
well-known European gastronomy<br />
professionals was awarded<br />
the contract to purchase<br />
large parts of the insolvent<br />
Vapiano SE. Now it is certain:<br />
Delf Neumann will take over<br />
- subject to the approval of the<br />
deal by the cartel authority - the<br />
approximately 30 German ownoperated<br />
restaurants and will<br />
also participate in the international<br />
franchise business.<br />
For Mario C. Bauer, Delf Neumann,<br />
founder and managing<br />
director of Gastro & Soul, is the<br />
absolute partner of choice: „As<br />
the home of Vapiano, Germany<br />
is of utmost importance for the<br />
new start of the brand.<br />
Absolute dream<br />
partner<br />
It therefore seems sensible to us<br />
to rely on the support of entrepreneurs<br />
who share our values<br />
and have a lot of experience<br />
in system gastronomy. This is<br />
why, in this very dynamic negotiation<br />
process, we decided<br />
at short notice and by mutual<br />
agreement to make a correction<br />
regarding our partner in Germany<br />
and chose Delf Neumann<br />
and its Gastro & Soul Group<br />
as master licensee,“ Bauer explains.<br />
„The decisive factor for<br />
us was his unique know-how in<br />
the development and multiplication<br />
of successful gastronomic<br />
concepts.<br />
Drees & Sommer with<br />
almost 18 percent<br />
sales growth in 2019<br />
Drees & Sommer SE, headquartered<br />
in Stuttgart, generated<br />
sales of 500.1 million euros in<br />
fiscal year 2019. Compared with<br />
the previous year, sales rose by<br />
75.2 million euros, representing<br />
an increase of almost 18 percent.<br />
The profit of the internationally<br />
active planning and consulting<br />
company for the construction<br />
and real estate sector increased<br />
by around 19 percent to 56.7<br />
million euros.<br />
The sustainable and digital<br />
orientation, both in terms of<br />
customer projects and the company<br />
itself, contributed significantly<br />
to the result. In addition,<br />
the range of services, which<br />
covers the entire real estate life<br />
cycle, generated strong demand.<br />
After riots: Retail<br />
trade in Stuttgart<br />
severely damaged<br />
Despite Corona: BNP<br />
Paribas Real Estate<br />
succeeds in several<br />
major transactions<br />
Even in the current unprecedented<br />
global crisis situation, BNP<br />
Paribas Real Estate, as one of<br />
the leading international real estate<br />
service providers, remains<br />
a reliable partner for employees<br />
and clients.<br />
Despite the difficult market environment,<br />
the consultant was<br />
able to conclude several major<br />
deals throughout Europe. For<br />
example, BNP Paribas signed<br />
REIM transactions with a total<br />
volume of over 590 million<br />
euros throughout Europe.<br />
A total of ten major deals were<br />
concluded in Germany (Munich<br />
and Bremen), France (Paris and<br />
surrounding areas) and Italy in<br />
the office, logistics, retail and<br />
campsite segments.
www.wisag.de<br />
Your shopping centre in the best hands<br />
Perfect cleanliness, uncompromising security and optimum service:<br />
all this keeps not only the customers satisfied, but also tenants and<br />
owners. With our tailored solutions and experience, you will benefit<br />
from optimum management costs. And at all times, we have value<br />
retention and the sustained development of your centre in mind.<br />
We go one step further for you.<br />
Joaquin Jimenez Zabala<br />
Tel. +49 162 7861-324 joaquin.jimenez.zabala@wisag.de
Page 15 T O M<br />
NEWS <strong>June</strong> <strong>2020</strong><br />
Foundation stone<br />
laid for Viktoria Karree<br />
Many new projects in the city centre of Bochum<br />
The foundation stone has<br />
just been laid for the Viktoria<br />
Karree business district<br />
in Bochum. The 160 million<br />
euro project of the Hamburg<br />
HBB is being built on the site<br />
of the former justice centre<br />
on Viktoriastrasse in the city<br />
centre.<br />
There HBB is building an open<br />
business quarter with three<br />
multi-storey buildings and<br />
38,000 square metres of rental<br />
space plus an underground car<br />
park with more than 500 parking<br />
spaces. The project is part<br />
of the city center offensive of<br />
the city of Bochum.<br />
Construction work<br />
in full swing<br />
The construction site is very<br />
busy. Since February 2019,<br />
the old buildings of the Justice<br />
Centre have been professionally<br />
cleaned of pollutants<br />
and then demolished. Now the<br />
This is how Bochum‘s Viktoria Karree should look when it is completed.<br />
<br />
Visualization: HBB / RKW Architecture<br />
company August Prien is taking<br />
over the construction site from<br />
the demolition company Moß.<br />
August Prien works in a consortium<br />
with the company Hans<br />
Lamers, the facades will be built<br />
by the company Medicke.<br />
The total construction time will<br />
be more than two years - the<br />
completion of the complex overall<br />
project with various structures<br />
is scheduled for 2022. The<br />
project already has a high occupancy<br />
rate.<br />
Among others, Rewe Dortmund,<br />
easy Apotheke, Decathlon<br />
Sport, the Hotel Holiday<br />
Inn Express with the operator<br />
Tristar, Regus Co-Working, the<br />
city of Bochum and Bochum<br />
Wirtschaftsentwicklung as car<br />
park operator have already been<br />
determined as tenants.<br />
Drees & Sommer and BOAG merge<br />
Companies strengthen presence in the Netherlands<br />
Since 1 July, BOAG Advies en<br />
Management B.V. has been a<br />
wholly owned subsidiary of<br />
Drees & Sommer SE. With<br />
50 employees, BOAG will<br />
be integrated into Drees &<br />
Sommer Netherlands, which<br />
has the same number of employees.<br />
By merging with the established<br />
consulting and project management<br />
office BOAG, Drees<br />
& Sommer strengthens its presence<br />
in the Netherlands and<br />
expands its range of services,<br />
particularly in the education,<br />
healthcare, retail and residential<br />
construction sectors.<br />
Since July 1, the new management<br />
team of Drees & Sommer<br />
Netherlands has consisted<br />
of Michel de Haan, Chairman<br />
of the Executive Board, Kurt<br />
van Dijk, Ton Heijmans, André<br />
Leeuwis and Johan de Vries.<br />
„The merger with BOAG is an<br />
Drees & Sommer and BOAG have joined forces - here the management<br />
team. Photo: Drees & Sommer<br />
important and consistent step,<br />
as it will enable us to further<br />
expand our market position in<br />
the Netherlands and Europe,“<br />
explains Michel de Haan, Partner<br />
of Drees & Sommer SE and<br />
Managing Director of Drees &<br />
Sommer Netherlands. Ton Heijmans,<br />
Managing Director of<br />
Drees & Sommer Netherlands,<br />
adds: „Together we are able to<br />
offer our customers in the Netherlands<br />
and internationally a<br />
broader consulting and service<br />
package. At the same time, we<br />
are creating an attractive perspective<br />
for our current and future<br />
employees“.<br />
BBE survey: clear<br />
majority does not<br />
consider a reduction<br />
in value-added tax to<br />
be sensible<br />
The reduction in value-added<br />
tax from 19 to 16 percent, which<br />
comes into force on 1 July, is a<br />
core element of the second Corona<br />
Tax Assistance Act. The tax<br />
relief is intended to give traders<br />
and consumers urgently needed<br />
liquidity for consumption.<br />
While some are still arguing<br />
about whether the measure will<br />
serve its purpose and customers<br />
will return to the shops in the second<br />
half of the year, the other<br />
side doubts that the financially<br />
strapped trade will really pass<br />
the savings on to consumers.<br />
BBE Handelsberatung from<br />
Munich has conducted a survey<br />
of just under 300 stationary retailers.<br />
According to the survey,<br />
the sweeping accusation that<br />
companies would rather put the<br />
tax cut into their own pockets<br />
only applies to a small proportion<br />
of retailers. A total of 59 percent<br />
of the companies surveyed<br />
stated that they would pass on<br />
the relief to their customers either<br />
in full or in part. Only 19.5<br />
percent of the companies would<br />
prefer to keep the gift from the<br />
tax authorities to themselves,<br />
while around 21.5 percent are<br />
still unsure about the question.<br />
69.6 percent do not consider the<br />
associated additional expenditure<br />
due to the tax reduction to<br />
be proportionate. Overall, 79.4<br />
percent do not consider the reduction<br />
in VAT to be sensible.<br />
Galeria Karstadt<br />
Kaufhof: 56 department<br />
stores must<br />
close<br />
The crisis-ridden Galeria Karstadt<br />
Kaufhof group has apparently<br />
agreed on a restructuring<br />
concept. According to the plan,<br />
56 of the 172 stores are to be<br />
closed. The collective bargaining<br />
partners have agreed on the<br />
reorganization concept of the<br />
department store group Galeria<br />
Karstadt Kaufhof. Which stores<br />
are affected has not yet been announced,<br />
however. According<br />
to initial estimates, about 5000<br />
of the remaining 35,000 jobs<br />
would be at risk. A social plan is<br />
to be introduced for the affected<br />
employees.
Page 17 T O M<br />
MAP OF THE MONTH <strong>June</strong> <strong>2020</strong><br />
Retail share of private consumption, Europe 2019<br />
GfK’s Map of the Month for <strong>June</strong> illustrates the brick-andmortar<br />
retail turnover share of private consumption in Europe<br />
in 2019. According to GfK’s latest retail study, the<br />
retail turnover share of overall consumer expenditures in<br />
the EU-27 decreased by 1.0 percent last year to 29.9 percent.<br />
Contributing factors to this decline include competition<br />
from online retail and a trend toward more spending<br />
on services. Among the countries considered by the study,<br />
Hungary has the highest share of brick-and-mortar spending<br />
at 50.0 percent. Last place goes to Germany, where<br />
consumers devote just 23.7 percent of their funds to brickand-mortar<br />
retail.