Munich: FitStar, Lidl, and Sparkasse lease nearly 5,000 sqm in “Perlach Plaza”
More tenants have been signed for the “Perlach Plaza” in Munich. The fitness studio FitStar will be moving into roughly 1,800 sqm, about 1,700 sqm have been leased by Lidl, and savings bank Stadtsparkasse München will occupy around 1,350 sqm. More than 60 % of the retail space is now pre-let before the start of construction, as Concrete Capital and BHB released. The partners intend to finish the quarter project on Hanns-Seidel-Platz in 2022. Plans include about 30,000 sqm GFA for retail, rental apartments, and student apartments, as well as an Ibis Styles hotel. The joint venture quotes the investment volume at roughly €200mn. Groundbreaking is to take place in May. The Perlach Plaza project is part of the urban development project Kulturquadrat.
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