ACRON extends its tenancy agreement with Media Markt at Westcenter St Gallen

The Westcenter St Gallen shopping centre is a key location in eastern Switzerland for Media Markt. The premises on Herisauer Strasse were built in 1999, upgraded in 2010 at a cost of CHF 7.25 million and offer 13,510 m2 of retail space, as well as functional areas and over 400 parking spaces. Other major tenants include Toys R Us (toys), Fressnapf (pet food) and Aldi (discount store).

Media Markt, a consumer electronics retailer, currently operates in 25 locations thoughout Switzerland. The Media Markt stores have a decentralised organisational structure and are managed by Media Markt Management AG in Dietikon. Every store manager is also co-owner of their establishment and is responsible for the product range.

ACRON HELVETIA XI Immobilien AG is a joint-stock property company under Swiss law, whose sole asset is the Westcenter shopping centre. ACRON AG oversees the management of the property.

Kai Bender, CEO of ACRON AG, said: "We believe in the quality of Westcenter and are delighted that Media Markt is remaining loyalto the shopping centre for another seven and a half years. We are in the process of securing additional well-known tenants for the few remaining spaces available."

René Hüppi, Managing Director of Media Markt St. Gallen AG, was clearly won over by ACRON's plans for the future of Westcenter: "We believe that Westcenter is an attractive location in eastern Switzerland. We are delighted that our business is to remain on this site and can continue to develop there."

Westcenter is part of a shopping district on the outskirts of the city of St. Gallen (population 74,000) and is directly adjacent to an IKEA furniture store, a football stadium and the Shopping Arena retail centre.