Publity : confirms further lease agreement in Gelsenkirchen

publity AG has wrapped up a lease renewal and area extension with existing tenant KIK Textilien for the 12,100 m² commercial property in Gelsenkirchen. The multi-tenant property remains almost fully let.

The KIK Textiles Non-Food GmbH has signed a tenancy agreement extension with publity AG, increasing its retail space by about 350 m² to a total of 1,100 m². On completion of the tenant renovation, expected to be 1st July 2018, KIK Textiles will remain a tenant for a further 10 years.

As part of a joint venture, publity acquired the prominent Gelsenkirchener inner city property at the beginning of 2017. Impressing with its 13 floors and 171 rented parking spaces, the 579th publity asset management portfolio property offers excellent access to the main train station (just 1 km away), and the A40, A42 and A2.

'As the property comprises office space on two floors as well as retail space, the publity AG asset management shows that the 'manage-to-core' strategy is not only successful in familiar office areas, but is also used by publity AG in a tenant-specific manner;' said Thomas Olek, CEO of publity AG.