A good ten years after its opening, Skyline Plaza, one of the central shopping centers in Frankfurt's Europaviertel, is undergoing extensive modernization. More than 35 million euros are to be invested in the project to future-proof the center and make it even more attractive for visitors and tenants. The modernization is part of a wide-ranging refurbishment programme initiated by the owners Allianz and ECE.
Nicole Pötsch, Head of North & Central Europe and Co-Head of Investment Europe at Pimco Prime Real Estate, which manages Allianz's stake in Skyline Plaza, believes that the shopping center is on the right track: "Skyline Plaza has successfully established itself as a retail location and has a very attractive visitor frequency. With our expertise in active asset management, we want to continue to adapt the center to the needs of customers and position it optimally for the future."
New tenants and more diverse offerings
A key part of the modernization project involves adapting and expanding the tenant mix. The focus here is on strengthening stores for daily needs, grocery stores and providers in the health and beauty sector. In addition, new concepts in the areas of entertainment, leisure and gastronomy are to be integrated. "Almost a third of the space will be available for leisure, enjoyment and entertainment in future - in some cases even seven days a week," explains Arne Nachtigahl, the responsible Project Director at ECE Marketplaces.
Lease agreements for many spaces are already at an advanced stage of negotiation. In the fashion segment in particular, new leases have almost been concluded with two anchor tenants. Existing tenants are also banking on the location: Almost all major anchor tenants have extended their leases and some will even increase their space.
Expansion of the Skyline Garden
Another highlight of the modernization is the expansion of the popular "Skyline Garden", which is located on the roof of the center and is known for its impressive views and high quality of stay. The roof garden is being extended to include four padel tennis courts, which are being created in collaboration with rental partner David Lloyd. Fans of this trendy sport will be able to play and train there in future.
A direct connection between the roof garden and the center will also be created: A new, 30-meter-high glass elevator will transport visitors from the first floor directly to the Skyline Garden. This will be of particular benefit to food court guests who want to enjoy their meals outdoors.
Modern design and better connection to the urban environment
In addition to the new content, the design of Skyline Plaza will also be modernized. Light, airy and transparent design elements are intended to enhance the entire center. Among other things, ceilings will be opened up and a new lighting concept implemented. "We want to create a pleasant, homely ambience and emphasize the urban character of the center more strongly," explain those responsible.
A central goal is also to open up the shopping center more to the outside world and connect it better to the growing environment in the Europaviertel. To this end, outdoor catering will be expanded and the routing within the center will be simplified to facilitate better orientation. Thematic areas for children, entertainment and beauty will also be created.
Timetable and future transport links
Construction work is set to begin in mid-2025 and will take place in stages. The first new stores could open their doors as early as spring 2025. The entire modernization project is expected to be completed by autumn 2027. At the same time, the U5 subway line is to be completed to the entrance at Güterplatz, which will significantly improve Skyline Plaza's connection to public transport.
Olaf M. Kindt, Center Manager of Skyline Plaza, sees the conversion as an important measure for the further development of the location: "The modernization will allow Skyline Plaza to fully develop its role as an urban and exciting shopping center in the heart of Frankfurt."
With the planned measures, Skyline Plaza is setting the course for the future and positioning itself as a modern, versatile and well-connected shopping center that meets the changing requirements of customers and retailers.
