Pasing Arcaden, Munich, IKEA, Unibail-Rodamco-Westfield, Pasing-Obermenzing

Pasing Arcaden, a shopping center located in the Pasing-Obermenzing district of Munich, Germany, has been acquired by IKEA, a Swedish furniture retailer, from Unibail-Rodamco-Westfield, a Franco-Dutch real estate investment and management company.

The acquisition, which was announced on March 8, 2023, is part of IKEA's strategy to expand its presence in the Munich metropolitan area, home to over 1.5 million people. Pasing Arcaden is a well-established shopping center with a strong track record of performance, making it an attractive investment for IKEA. The acquisition is expected to close in the second quarter of 2023, subject to customary closing conditions.

Pasing Arcaden is a two-story shopping center with a gross leasable area of approximately 23,000 square meters. The center is anchored by a large IKEA store and features a variety of other retail tenants, including fashion, accessories, home goods, and electronics stores. Pasing Arcaden is located in a densely populated area with excellent public transportation links, making it a convenient destination for shoppers.

IKEA plans to invest in Pasing Arcaden to enhance the shopping experience for customers. The company plans to renovate the center, add new amenities, and improve the overall design. IKEA also plans to introduce new retail concepts to the center, including its popular small-format stores and its online order and pickup service.

The acquisition of Pasing Arcaden is a significant step for IKEA in its expansion plans for the Munich area. The company already operates several stores in the region, including a large store in the nearby town of Brunnthal.