Pramerica Real Estate Investors is teaming up with local developer Hkm to build a new shopping centre in Böblingen, to the south of Stuttgart, in Germany.

Construction of the scheme located in a prominent downtown location is expected to start in the fall of 2012.

On completion the mall will offer 24,400 m2 of net lettable area over 95 shops as well as 800 parking spaces. Hkm will be responsible for the development, management and marketing of the asset.

CBRE advised Pramerica on the establishment of the joint venture.