On the objectives of Commerz Real, the manager explains:
News ReleasesCommerz Real extends usage agreement with Galeria am Alexanderplatz
Time to read3 min.
updated at02/11/2026
CategoryPressemitteilungen
On the objectives of Commerz Real, the manager explains:
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.
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.
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.
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.
The further development of the department store complex cannot and should not be considered isolated from the overall situation of Alexanderplatz and the immediate surroundings.
That is why Commerz Real is committed to creating a so-called “Business Improvement District” as part of the initiative of the Mitte district together with other owners of the neighbouring buildings. The aim is to develop ideas for the further development of this central area, which is important for Berlin. The Galeria department store is part of the “The Berlinian” complex. Recently, Commerz Real celebrated in the presence of Berlin’s reigning mayor Kai Wegner, the first of the new high-rise buildings on Alex, the festivities for the adjoining office tower.
Commerz Real AG is the asset manager of the Commerzbank Group and has 50 years of international market experience. The company combines extensive know-how in asset management with broad structuring expertise and uses this expertise to develop tangible asset-oriented fund products and individual investment solutions in the real estate and infrastructure sectors. As a leasing service provider of Commerzbank, Commerz Real Mobilienleasing also offers needs-based leasing concepts.
Since 2025, the Commerzbank Group’s asset management holdings have been bundled with Commerz Real AG. In addition to Commerz Real’s brands and products, these include the Aquila Capital investment company with a focus on sustainable tangible asset investments in the area of energy infrastructure and Yellowfin as a boutique for liquid investment strategies. Under the umbrella of Commerz Real AG, a total of around 1,000 employees manage assets of around EUR 55 billion at around 20 locations.
A Commerzbank Group company