In 2017, Hines acquired the Mira Shopping Center in Munich on behalf of a German special real estate fund. Hines acted as acquisition manager and will be responsible for asset management.
Built in 2008, the Mira Shopping Center covers 263,974 square feet and hosts around 60 retail tenants. The property also offers 754 parking spaces and 11,582 square feet of medical and office space. The Mira Shopping Center is very well connected to Munich’s transport network (MVV) through a direct entrance from the Dülferstraße train station. The property is located in one of the fastest growing districts of Munich which is being shaped by the expansion of the central BMW Research and Innovation Center (FIZ) where up to 15,000 people will be employed; the planned connection of Schleissheimer Straße to the A99 highway, as well as various residential developments in the surrounding area. Hines plans to reposition the Center in the long term and establish it as a popular hub for the district.