- Commerz Real extends usage agreement with Galeria am Berliner Alexanderplatz until 31 March 2027 and appeals to owners of the department store chain
- Negotiations on the move-in of the Central and State Library led by Senator for Culture Sarah Wedl-Wilson
- Thanks to Senator of Economic Affairs Franziska Giffey for commitment and emphasis on good cooperation
- Opportunity for significant upgrading of Alexanderplatz
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Commerz Real has extended the usage agreement with Galeria for the department store at Berlin’s Alexanderplatz from 1 September 2026 to 31 March 2027. As the tangible assets subsidiary announced to Commerzbank, this is intended to provide sufficient time for further negotiations on the feasibility of combining Galeria and the central and national library (ZLB). These are currently led by Sarah Wedl-Wilson, Senator for Culture and Social Cohesion.
We are pleased that Senator Giffey also actively supports this approach, expressly thank her for her commitment so far and look forward to continued cooperation.
Mario Schüttauf
hausInvest fund manager since 2007
As a sign of goodwill, Commerz Real agreed to return to the agreed and currently applicable level of rent in 2025 for the duration of the usage agreement. At the same time, the asset manager is appealing to the owners of the Düsseldorf department store group to fulfil their operator responsibility more strongly than before, for example in the case of maintenance and urgently necessary renovations.
In addition, we expect the shareholders to make significant strategic investments in the modernisation of the retail concept, also as a clear commitment to the Alexanderplatz location.
Mario Schüttauf
hausInvest fund manager since 2007
On the objectives of Commerz Real, the manager explains:
Together with Galeria, we want to significantly develop the department store location further in order to permanently transform it into a profitable future and thus give employees a real perspective.
Mario Schüttauf
hausInvest fund manager since 2007
In accordance with the long-term investment strategy, the concept envisages mixed use, which further develops the department store’s tradition at the location in view of the new shopping habits (keyword: online shopping) and extends it to include cultural use. Overall, the entire complex is intended to offer a vibrant mix of work, culture and shopping. “Since our plans were announced, we have been receiving requests from retailers to participate almost daily,” Schüttauf emphasises.
At the same time, Commerz Real’s management is pursuing an approach to contributing to the sustainable development of the city. An additional cultural use, such as the ZLB, would make this contribution to urban development if it radiated to the immediate surroundings of Alexanderplatz and thus promoted a positive change in the composition of visitors and thus also the atmosphere there.
