March 2011 I DERECO sells property in Cologne’s pedestrian zone
The DERECO, Cologne, has successfully sold a retail property in the Breite Straße,
at the corner of Mörsergasse in Cologne’s city centre. Seller is the Dutch Jan A. de Boer B.V., who
only purchased the property in 2008 through the DERECO for a private placement.
The buyer is a major German insurance company.
The completely let inner city property has more than 3,800 sqm of total rental area that is divided
into retail, office and residential units. During the years 2009 to 2010, the largest part of the building
was presented as a new building by the Incity AG, Cologne, and the remaining areas were exten-
sively modernized. Main tenant in the new building is, besides Ulla Popken and Ecco Schuhe, the
SEB Bank AG / Santander Consumer Bank AG. The actual buying price has been kept quiet.