PingProperties acquires Stadshart Oost Zoetermeer from Altera and MN
05-09-2022
On 1 September PingProperties acquired Stadshart Oost, situated in Zoetermeer city centre, for its Daily Convenience Center IV portfolio. Stadshart Oost is a city-centre, mixed-use asset with 27,500 m² retail, 831 parking spaces in shared ownership (45%) in four car parks and 48 apartments. It also offers the option of developing a residential tower block.
Stadshart Zoetermeer has a long history and an excellent reputation in its catchment area. With more than 10 million visitors a year, Stadshart Zoetermeer is the largest and most important shopping centre in the city. It offers a mix of non-daily shops, supermarkets, restaurants, offices and homes.
With the purchase of Stadshart Oost, PingProperties is expanding its convenience retail portfolio further. PingProperties believes in the power of district shopping centres, where active management and personal attention to retailers can add value. ‘The opportunities offered by the shopping centre, in combination with Zoetermeer’s strong catchment area, make a repositioning as a lively convenience centre an exciting challenge for our team’, says Luc Baas, Fund Manager of PingProperties.
Purchase strategy for convenience retail
PingProperties invests in convenience retail in urban district centres. It believes in a strategy with a strong mix of tenants focusing on a constant exchange of people, goods and services. A shopping centre performs better when there is a concentration of shops providing for daily shopping needs and strong chain stores focusing on discretionary shopping, together with local heroes and social amenities. Maarten Matze, CIO of PingProperties: ‘By pursuing this strategy, our organization sees huge growth potential for Stadshart Oost in Zoetermeer’.
PingProperties was advised on the purchase by CBRE, City Real Estate, Resi and Loyens & Loeff. The vendors were advised by Cushman & Wakefield, Capital Value and Dentons.
Go backNews
25-04-2023
PingProperties renews lease with Intertoys in Passage Schiedam shopping centre
PingProperties has renewed the lease with Intertoys for the long term, for approx. 325 m² of retail space. This renewal is perfectly in keeping with PingProperties’ vision to retain long-term tenants in Passage Schiedam.
20-04-2023
PingProperties extends financing arrangement with NIBC for Passage Schiedam shopping centre
On behalf of Daily Convenience Center III, PingProperties has extended the financing arrangement with NIBC for Passage Schiedam shopping centre, situated in the centre of Schiedam. This extension enables PingProperties to continue its asset management strategy.
13-03-2023
PingProperties renews lease with PharmaPartners
PingProperties has renewed the lease with PharmaPartners for the ‘America Tower’ building located at Wilhelminakanaal Zuid 110 in Oosterhout. The total lettable floor area in the building is 2,239 m² of office space, together with 69 parking spaces. PharmaPartners has leased offices in the America Tower since 2010.