OPEN & GFORM celebrate topping-out ceremony of the Rastal Center

On Thursday 17 th November the Greenman OPEN and GFORM team attended the Richtfest ceremony for one of OPEN’s new retail centres in Hohr-Grenzhausen.

Acquired at the end of 2021, the new turnkey Rastal Center was the second acquisition from OPEN’s portfolio framework agreement with developer Schoofs Immobilien Frankfurt. One year after the start of construction, the shell of the centre is now complete and the Richtfest, a topping out ceremony that sees the last beam placed atop a structure, took place.

The Rastal Center will be a flagship property in the OPEN portfolio. Designed according to the “open sky” architectural principle, the buildings circle a large central spare that is open to the air, allowing a closer connection with nature. The centre is also being built to the highest sustainable standards and is targeting to achieve a gold DGNB rating once complete.

James McEvoy, CEO of GFORM, says: “We are very pleased to be working with project developer Schoofs Immobilien Frankfurt to realise this Green Building retail centre in Höhr-Grenzhausen that meets the highest standards of sustainability and user-friendliness. OPEN is one of Germany’s largest grocery-retail focused investment funds and it has ambitious net-zero targets. The Rastal Center will be an excellent addition to their portfolio and instrumental in helping them achieve their carbon neutral goals.”

The centre will be anchored by some of Germany’s leading grocery retailers, Lidl and Aldi. Complimentary anchor tenants include DM and Deichmann with additional tenants such as NKD, Woolworth and Tedi ensuring that the centre has a well-rounded offering for customers.

It is always exciting to see the full lifecycle of a property, from foundations being laid, to the final beam being placed, to the opening and its use. OPEN looks forward to taking over the turnkey delivery of the new Rastal Center, with the opening of the centre planned for spring 2023.

© 2022 | Frederic Kruft | VG Höhr-Grenzhausen