Refurbishment for the Berlin Kranzler Eck
Axa Investment Managers Real Assets has begun refurbishing the retail portion of Neues Kranzler Eck in Berlin. The company acquired the asset, which includes the long-established Café Kranzler in West Berlin, on behalf of a client in 2013.
The Neue Kranzler Eck consists of a new building designed by Helmut Jahn and the two-story old building from the 1950s. The latter is now to be modernized, among other things by removing glass porches and a winter garden that do not belong to the original building. The total of 22,000 square meters of retail space will be redesigned. British fashion brand Superdry is moving into the space previously occupied by Gerry Weber and Schuhhof, where it will open a 3,000-square-meter flagship store.
Construction work began in mid-March 2016 and is scheduled for completion at the end of the year. (ah)
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