Ingka Centres to acquire major Munich shopping centre
Ingka Centres is to acquire the Pasing Arcaden shopping destination in Munich.
A subsidiary of Unibail-Rodamco-Westfield Germany, the retail anchored mixed-use development has more than 53,000 square metres of gross leasable space.
Situated in the densely populated Pasing-Obermenzing district west of Munich’s city centre, the scheme attracts 10 million visitors per year. Current retail tenants include the likes of Müller, HIT, Media Markt, Aldi, H&M, Hugendubel, dm and C&A.
Once the transaction completes, Pasing Arcaden will become Ingka Centres’ fifth urban meeting place acquisition following similar transactions for the concept in Brighton, Paris, London and San Francisco.
Part of Ingka Group, the owner of IKEA, Ingka Centres is also developing new-build meeting places with large-mixed use components in markets such as India and China.
In 2022, IKEA launched a small store format, known as Livat, at the London scheme in Hammersmith.
Cindy Andersen, Ingka Centres’ managing director, said: ““Pasing Arcaden is iconic within Munich and the 1.3 million people who live locally. We see this as a fantastic opportunity to bring the Ingka Centres concept to a shopping center backed by years of success.
“Most importantly, we look forward to creating a vibrant, inclusive space where the local community can come together to connect, shop, and share experiences. This is our 26th meeting place in Europe, our first back in Germany, and yet another flagship moment for our global growth journey. We can’t wait to get started.”
