Located in the southeast of Graz, Center West is a well-positioned shopping center, one of the oldest and best known in that part of Austria.
- Successful implementation of major refurbishment works in 2013, including the façade, mall and a face-lift of the outside areas.
- Positioning of the asset as family and leisure centre, bringing in a new tenant mix.
- After project completion CC Real sold its stake to the existing owners in 2015 but continued to act in its role as investment and asset manager and providing property/centre, development and leasing management services.
- Since then, a 5,000m² centre extension was completed in 2019 bringing in a new trampoline/inflatable park and a Intersport flagship acting as THE sports destination in Graz.
- Due to its convenience, sports and family-oriented offer, Center West was able to thrive during the covid-19 pandemic. Footfall remained constant during the 2-year pandemic period and tenants reported higher sales. This trend continued in 2020 where 14% + in sales and 7% in rents could be reported for 2022 vs. pre-covid.
- Latest highlight in 2023 was the opening of a Müller drugstore further enhancing the daily needs offering of the asset.
Location
Graz, Austria
Sector
Retail
GLA
61,600m²
Footfall
~4.4M
Engagement
Co-Investor
Investment Management
Asset Management
Leasing Management
Development Management