Primark signed a conditional lease agreement on 5,200 sqm at City Arcaden in Ingolstadt. Situated on Ludwigstrasse, the project was acquired by Redefine International in August 2013 as part of a €189m German shopping center portfolio deal. Redefine International is in the process of renovating City Arcaden to meet current retail standards. Once work is completed, the shopping center will offer 7,700 sqm of space.
“We are very pleased to have reached an agreement on this landmark transaction with Primark. The arrival of Europe’s most sought-after discount fashion brand in Ingolstadt is exceptionally good news for the city, and marks Redefine International’s second Primark store in Germany, following its highly successful outlet at our Berlin shopping center, Schloss-Strassen Centre,” said Mike Watters, CEO of Redefine International.
