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ACROSS

shopping center

Varena Vöcklabruck /// credit: Robert Fritz

Cool Shopping Malls Are Particularly Popular In The Heat

To be “the coolest place in town” as a shopping center, one needs more than just trendy stores: When outside temperatures are high, shopping centers are particularly popular because of their pleasant air conditioning. Sophisticated building technology is used to save energy. SES’s motto is to air-condition carefully and make use of existing resources. The air conditioning in SES centers is 100 percent powered by green electricity from renewable energy sources and, depending on the location, also uses well cooling and groundwater pumps.

Westfield Hamburg-Überseequartier, Luv & Lee /// credit: rock & stars, URW

Hamburg-Based Management Consultancy WAYES Moves Its Headquarters To Westfield Hamburg-Überseequartier

Following the recent addition of 12 new tenants that will further differentiate the retail and lifestyle destination’s offering, the letting of office space at Westfield Hamburg-Überseequartier also continues to progress successfully. The Hamburg-based management consultancy WAYES, which focuses on restructuring, litigation, transactions, planning, interim management and tax consultancy, and Unibail-Rodamco-Westfield (URW) have signed a long-term office lease agreement.

Credit: MCARTHURGLEN/DANIEL BOINTNER

DESIGNER OUTLET PARNDORF: SUMMER TIME IS SALES TIME

Parndorf is a great example of how tourism is increasingly linked to shopping. This summer, Designer Outlet Parndorf will again come up with special campaigns and attractions to create a special summer vacation feeling for the whole family. Mario Schwann, General Manager of Designer Outlet Parndorf, expects the record year 2023 to be outperformed again, with strong tourism figures from Austria, cross borders and the EU contributing to this – Non-EU-tourism performance is also showing a positive trend.

credit: Kaufland

REVITALIZATION: HOW KAUFLAND IS DEVELOPING A MARKET HALL INTO THE NEW TOURISM MAGNET OF SOFIA

Kaufland is continuing its expansion tour in Europe. Revitalizations are playing an increasingly central role in this. The integration of existing retail locations and modernization has recently increased compared to the construction of new buildings. Furthermore, the latest example in Sofia shows the role that the interaction between tourism and retail can play for a location. With the revitalization of the Central Market Hall in Sofia, Kaufland is not only reviving an architecturally unique location but also a tourist magnet.

Avion Shopping extension design, Umeå, Sweden. /// credit: Ingka Centres

Avion Shopping Center In Sweden Is Undergoing A Major Expansion

Since opening in 2016, Avion has grown to become one of northern Sweden’s most popular destinations for retail, leisure, and food experiences. Now, the next step is being taken when Ingka Centres begins the first phase of the expansion of Avion Shopping. As Umeå grows, the meeting place will be expanded by 12,000 sqm with the goal of continuing to be a vibrant local meeting place with positive experiences in focus. The project is estimated to cost approximately 31 million euros and will be completed in autumn 2025.

ECE Marketplace´s Retail Meeting in 2024 took place in Hamburg. /// credit: ECE Marketplaces

ECE Retail Meeting Celebrates Its 20th Anniversary

At this year’s 20th edition of ECE Marketplaces’ international Retail Meeting, around 800 top decision-makers and experts from the retail, hospitality, placemaking and entertainment sectors met today in Hamburg’s Fischauktionshalle to discuss current topics as well as the opportunities and challenges in the retail real estate sector.

credit: Citycon

Key Factors Driving Quality At Shopping Centers

Why do we visit shopping centers? Is it merely for shopping, or are we seeking entertainment, a place to meet, or perhaps all of these experiences combined? Despite the diverse reasons that draw us to shopping centers, one expectation remains consistent across all visits: the demand for quality.

Ortaç Özortaç is Partner at WECONSULT. /// credit: WECONSULT

THE ECONOMIC SITUATION IN TURKEY AND ITS IMPACT ON SHOPPING MALLS

Shopping malls developed recently in Turkey are typically designed for shopping, dining, entertainment, and sometimes cultural events. Since the early 2000s, the rapid increase in shopping malls has made them a significant factor in the national retail sector. Despite the country’s economic difficulties, the industry is vital.

credit: ACROSS

ACROSS Retail Talk: “Retail And The Hotel Industry” – A Possible Win-Win-Win Situation For Investors, Developers, And Hoteliers

“Development in the future can only be a win-win-win situation, if you can tighten the building, and make it more profitable on the space per sq m” – Making use of the available space as efficiently as possible is one of the key components of a successful retail-hotel synergy. The latest ACROSS Retail Talk, “Retail and the Hotel industry” sheds light on the relationship between Retail and Hotel, and how they might profit from each other, with the high-caliber panel concluding: Combining the retail and hotel sectors works best if the market and demand for it is clear, and if the best possible partners are sought out, especially on a local level.

Credit: Bicester Village/Hammerson

Hotels play an important role in positioning outlet destinations

Tourism and shopping belong together – this is most visible within the outlet industry. Many outlet centers are located in leading tourist zones and traditionally work together with the tourism authorities. Outlets and tourist destinations understand and present themselves as a unit. This means that the outlet industry is one step ahead of the shopping center industry, but there is still a lot of potential here, since 10% of the European outlet centers have hotels at their sites.

at ECE Work & Live (left), and Altmarkt-Galerie in Dresda, Germany (right). /// credit: ECE

Shopping Centers & Hotels: Experience As A Common Guiding Principle

Shopping centers and hotels have increasingly become complementary assets that together, particularly in city-center locations, form a mutually reinforcing symbiosis. Both asset classes are characterized by a variety of offers, service qualities, and experience factors. When combined, the result is an even better mix of uses and, therefore, a win-win situation for everyone involved, explains Torsten Kuttig, Director Hotel Development at ECE Work & Live.

“RETAIL AND HOTELS – SEVEN REASONS WHY LEARNING FROM EACH OTHER WILL LEAD TO AN UNBEATABLE POSITION IN THE FUTURE!”

Retail and the hotel industry – is this a new and innovative topic? Certainly not, but it is always worth rethinking and keeping in mind, says Klaus Striebich, Managing Director of RaRE Advise and Head of the ACROSS Advisory Board. From a traditional real estate point of view, placing a hotel next to retail and vice versa has always been the norm. There has always been enough space on site or on the upper floors and demand from customers has always existed.

THE RETAIL AND HOTEL INDUSTRY – A LONG-LASTING LOVE STORY?

Retail tourism is here to stay. Travelers collectively spend billions of euros every year when they shop. They create jobs, providing income for retailers, craftsmen, and designers. Retail is one of the world’s most diverse industries, shaping every part of the travel experience, and retail tourism is playing a pivotal role in the recovery of the travel and tourism sector, which saw inbound tourism revenues surge by 82 percent in 2022, according to the World Travel & Tourism Council (WTTC). Despite all the challenges brought on by the pandemic, retail tourism remains strong. Furthermore, if tourism and hospitality are to play an important role in the future of retail, then the presence and location of hotels is crucial, experts say. What, however, does the joint potential of the retail and hotel industry look like? This ACROSS cover story analyzes the synergies between the retail and hotel industries.

Andreas Löcher, Head of Investment Management Operational (left), and Roman Müller (right), Head of Investment Management Retail at Union Investment. /// credit: Union Investment

Polarization is the trend of the moment: “We’re on the lookout for polarization winners”

The retail and hotel asset classes are both geared towards the consumer, clearly benefit from tourism and are impacted by the “luxury vs. budget” polarization trend. Six months ago, Union Investment therefore decided to bring together its retail and hotel investment teams by establishing an Investment Management Operational department. The Hamburg-based investment and asset management company is targeting synergies and opportunities for its portfolio in the two property categories and considering acquisitions. Andreas Löcher, Head of Investment Management Operational, and Roman Müller, Head of Investment Management Retail, discuss the megatrends affecting both asset classes, highlight other similarities and identify locations of particular interest.

HOTELS & RETAIL: “THE MOST OBVIOUS CORRELATION CAN BE FOUND IN THE LUXURY SECTOR”

Shopping tourism is on the rise again. International cases have proven that shopping and overnight stays can constitute a profitable symbiosis. Nevertheless, this profitable combination of hotel and retail is still in its infancy in Europe. Christian Buer, Professor of Business Administration and Hotel Real Estate & Financing at Heilbronn University and Founder of the consulting firm Nemis, explains where and how the combination of hotel and retail has the potential for success and why we should focus on the outlet and luxury sectors in particular.

“RETAIL AND HOTELS – SEVEN REASONS WHY LEARNING FROM EACH OTHER WILL LEAD TO AN UNBEATABLE POSITION IN THE FUTURE!”

Retail and the hotel industry – is this a new and innovative topic? Certainly not, but it is always worth rethinking and keeping in mind, says Klaus Striebich, Managing Director of RaRE Advise and Head of the ACROSS Advisory Board. From a traditional real estate point of view, placing a hotel next to retail and vice versa has always been the norm. There has always been enough space on site or on the upper floors and demand from customers has always existed.

at ECE Work & Live (left), and Altmarkt-Galerie in Dresda, Germany (right). /// credit: ECE

Shopping Centers & Hotels: Experience As A Common Guiding Principle

Shopping centers and hotels have increasingly become complementary assets that together, particularly in city-center locations, form a mutually reinforcing symbiosis. Both asset classes are characterized by a variety of offers, service qualities, and experience factors. When combined, the result is an even better mix of uses and, therefore, a win-win situation for everyone involved, explains Torsten Kuttig, Director Hotel Development at ECE Work & Live.

credit: RegioData

Shopping Centers in Europe: Only Eastern Europe remains dynamic

While the retail space of shopping centers* in Western Europe gradually expanded over many decades, it experienced a real boom in Eastern Europe in the 2000s. RegioData Research has compared the development of shopping center space in both European regions over the last 30 years in detail.

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THE RETAIL AND HOTEL INDUSTRY - A LONG-LASTING LOVE STORY?
From fashion capitals selling luxury products to bustling marketplaces peddling local goods, the shopping available at certain destinations is a powerful draw for many tourists. Shopping and vacations have always been closely linked. In the same way, the retail and hotel asset classes have always been interdependent.
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