Hamburg: MEAG starts revitalizing "Rahlstedt Center"
On July 15, MEAG Munich Ergo AssetManagement will be starting the revitalization of the shopping center called "Rahlstedt Center" in Hamburg's Rahlstedt district (Borough of Wandsbek). The lettable area will be expanded from 18,000 to 22,500 sqm; the number of stores will be raised from 45 to about 70, and the two presently separated building segments will be connected by a glass bridge building. The branch mix of gastronomy, apparel and entertainment electronics is to be improved. The investment volume is quoted at €45mn. The modernization of the shopping center built in 1983-84 will be carried out by mfi Management für Immobilien AG. The conclusion of the conversion in stages is scheduled for spring, 2010. The shopping center will then be renamed "Rahlstedt Arcaden".