Swiss Life takes over Glattzentrum
Migros sells its Glatt shopping center in Wallisellen to Swiss Life. The insurance company will market the Glattzentrum in the Asset Management division for third-party customers. Migros' business in the Glattzentrum will continue to be leased.
As part of the focus on the company's core areas, Migros is giving up real estate management. The association has now sold its Glatt shopping center in Wallisellen to Swiss Life . The buyer will take over the Glattzentrum “as part of its asset management activities for third-party customers”, explains Migros in a corresponding communication . According to her, the partners have agreed not to disclose the purchase price.
Swiss Life will take over the shopping center with unchanged rental contracts and will continue to develop it in the long term, the announcement further explains. The Glattzentrum is "one of the pioneers in Switzerland when it comes to the combination of shopping, adventure and meeting point," Stefan Mächler, Head of Investments at Swiss Life, is quoted there as saying. "We want to strengthen this market position in the future and we are convinced that the Glattzentrum is a very attractive investment property in the medium to long term." The Migros stores located in the Glattzentrum are to be continued unchanged and with long-term rental agreements.