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Estama announces new lease in Heppenheim for Bauhaus

Estama Gesellschaft für Real Estate Management mbH lets former DIY store, Praktiker, in Heppenheim out to Bauhaus. The rental area measures almost 13,000 m² and is the first of Estama’s locations from its Praktika portfolio to be re-let. Thorston Stoll, managing director of Estama, explains: “We are pleased to have acquired such a great business as Bauhaus for this location. We hope that this is just the start of us securing another rental agreement for old Praktiker and Max Bahr stores and are certain that we will be able to announce further contracts in the next few weeks.” The new DIY store is due to open at the beginning of March.

Estama Gesellschaft für Real Estate Management mbH was founded in 2005. The company specialises in retail and currently has assets worth over 4 billion euros with 700 properties to supervise and more than 4,000 rental agreements. The company’s headquarters are located in Berlin. Regional subsidiaries are located in Wuppertal, Frankfurt am Main, Munich, Zwickau, Cologne, Itzhoe, Gelsenkirchen, Langenfeld, Göttingen, Bremen as well as in Nordhausen and Sondershausen. The company employs more than 150 employees who have extensive national and international experience in all areas of commercial property management. www.estama.eu