IC Signs New Lease Agreement with Convenience Store in Chemnitz

Unterschleissheim near Munich, 18 June 2012 – The IC Immobilien Gruppe just found a new tenant for a retail unit of 931 square metres at the Rabensteincenter shopping mall in Chemnitz, Saxony. The new tenant will be a branch of the convenience multiple “Nah & Frisch.” The lease contract will enter into force in August 2012, ensuring uninterrupted occupancy after the incumbent, a Penny supermarket, moves out. In October 2011, Penny, which is a discount food market multiple operated by the Cologne-based Rewe Group, announced its intention to subject its branch network to fundamental changes. In line with this plan, it gave notice for this retail unit inside the district centre on Oberfrohnaer Strasse for the end of July 2012.

 “The fact that we managed to recruit this full-line supplier so quickly as a new tenant reflects positively on the quality of the centre and the location,” elaborated a spokesperson for IC Immobilien Service GmbH, which represents the property’s owner, IC Immobilienfonds Deutschland 10, in its role as asset manager. Completed in 1997, the Rabensteincenter district centre has a plot area of about 11,200 square metres, and a gross lettable area of about 9,980 square metres. The amount of space let approximates 96 percent.

About IC Immobilien Gruppe: IC Immobilien Group focuses on real estate services for German and international institutional investors. In addition, it assumes management tasks both for real estate funds launched in its own right and for third parties. The group currently maintains a staff of more than 280 professionals, deployed at 9 locations throughout Germany. All things considered, IC Immobilien Gruppe manages more than 15,000 private and institutional accounts and has more than 12 billion Euros in investment assets under management.