This means that the second floor is now fully let again. As a result, 50 percent of the space occupied by the insolvent anchor tenant Galeria Karstadt Kaufhof has already been reoccupied within a short space of time. The shopping center is part of the portfolio of the “UniImmo: Europa” open-ended mutual real estate fund.
Galeria Karstadt Kaufhof had rented around 19,000 sq m on four floors in Limbecker Platz and filed for insolvency for the third time since 2020 at the beginning of January 2024 and terminated the lease. It originally ran until the end of June 2030. The space is now to be divided into five to six sections and let to several concepts.
Union Investment and ECE were already able to set the course for the future of the center last year with the first extensive partial letting of the space of the former Galeria store: P&C* Düsseldorf, already based in Essen, has leased around 6,400 sq m on two floors and will implement its latest store design concept there. The P&C* store is expected to open in spring 2026. Union Investment, through its open-ended real estate fund UniImmo: Europa, and the ECE / Otto family as owners are jointly investing around 30 million euros in the conversion work.
“Promising talks are already taking place with prospective tenants from various sectors for the other spaces previously occupied by Galeria at Limbecker Platz,” says Norman Nährig, Senior Asset Manager at Union Investment. Most recently, Limbecker Platz was able to attract tenants including the Inditex concepts Bershka, Pull&Bear and Zara. The first store of the Japanese fast fashion designer brand MINISO in the German market has also opened in Essen.
With more than 200 stores, Limbecker Platz Essen is one of the largest inner-city shopping centers in Germany. The architecturally unique shopping center was designed by the famous Munich architect Gunter Henn and its enveloping metal façade is based on a dress worn by Marilyn Monroe. This façade is decorated with sequins, which are illuminated at night and shimmer in a variety of colors.
