Zittau: Specialist retail center almost fully let by IC

IC Immobilien Group has signed several leases with well-known retailers such as Toom, Rewe and Deichmann, for 13,000 square meters at a retail center it manages in Zittau. The leases range between 7.5 and 12 years. As part of the repositioning of the center the owners are investing 4,5 million euros on a revitalization program as the center has been in operation for 20 years. Following these large-scale lettings only, a few smaller retail units remain to be let. As the property's Asset and Property Manager, the IC Immobilien Group is targeting full occupancy by mid-2014. The retail center is a fund-owned property with approximately 16,000 square meters of rentable space. IC Group has been managing and developing the real estate for twelve years.