A retail park that is situated in Styria, Austria has been purchased by Union Investment.
The HATRIC Q2 retail park in Hartberg, Styria (Austria) has changed hands. Having previously acquired the adjacent phases HATRIC Q3 and Q4 from Rutter Immobilien Gruppe upon completion in 2017, Union Investment has now also secured the Q2 building with its approximately 6,800sq m of rental space, which opened in 2005. The vendor is again Rutter Immobilien Gruppe. The acquisition will be added to the holdings of open-ended real estate fund immofonds 1, which is marketed solely in Austria. The purchase price was not disclosed.
HATRIC Q2 consists of two separate sections: a food store, which is currently being expanded to 3,460sq m, and a retail strip comprising some 3,330sq m of space. The retail park is fully let. Food retailer Merkur, part of the REWE Group, is the anchor tenant that drives footfall to HATRIC Q2. It is scheduled to reopen in the expanded space in mid-September this year.