Dietikon: HIAG leases retail space

HIAG did not disclose details about the new tenant. However, it will be the largest single tenant in the real estate company's portfolio in terms of rental income and rental space, HIAG says.

The company leases both sales and warehouse space on a total area of just under 20,000 sqm on the retail site in Dietikon (ZH), which is located directly on the A1 motorway. According to HIAG, the overall project comprises a new replacement building with a usable area of 9,000 sqm and the modernization of an existing usable area of 11,000 sqm.

The contract has a term of 15 years. Development could begin as soon as existing leases expire and a building permit becomes legally binding. Based on the zoning-compliant use, a corresponding permit can be expected, HIAG said. "The conversion investments to be triggered by the conclusion of this lease will give the site a new, modern face," says Ralf Küng, head of portfolio management at the company.

In summer 2017, MediaMarkt already extended its lease for 5,500 sqm at the retail location in Dietikon for a further ten years.