Teveo Signs 950-Square-Meter Flagship Lease on Cologne's Ehrenstraße, With JLL Advising Deka Immobilien

COLOGNE, Germany — Sept. 17, 2026 — Sportswear brand Teveo has signed a lease for approximately 950 square meters of retail space at Ehrenstraße 69 in Cologne, marking the company's first physical store in Germany. The flagship is expected to open by the end of 2026. Owner Deka Immobilien Investment GmbH was advised on the transaction by JLL under an asset management mandate.

Deal Details: Teveo Takes Ground Floor and Basement at Ehrenstraße 69

The leased space spans the ground floor and basement of the mixed-use building at Ehrenstraße 69 / Kettengasse, 50672 Cologne. The heritage-protected property carries a total lettable area of 2,260 square meters, with the upper floors housing residential apartments and office tenants — all of which are currently occupied, making the building fully let across all uses.

Teveo, which positions itself as a sportswear brand focused on fitness, running, Pilates, and yoga, will occupy the retail portion previously held by fashion label Diesel until 2023. Following Diesel's departure, the space underwent a series of short-term interim lettings before Teveo secured the unit as a long-term flagship tenant.

JLL advised Deka Immobilien Investment GmbH on the leasing transaction as part of a broader asset management mandate. Deka Immobilien Investment GmbH is a major German open-ended real estate fund manager and part of the Deka Group.

Ehrenstraße's Position in Cologne's Retail Market

Ehrenstraße occupies a distinct tier within Cologne's prime retail hierarchy, sitting below the mass-market Schildergasse — where prime rents stand at approximately €225 per square meter per month — but firmly within the city's trend and lifestyle segment. Prime rents on Ehrenstraße rose from €90 per square meter per month in 2024 to €100 per square meter per month in 2025, with the same level forecast for 2026, reflecting a period of stabilization after broader pressure on German high-street retail.

The street's profile — characterized by fashion, lifestyle, and concept-oriented tenants — makes it a natural fit for a brand like Teveo seeking a flagship presence that balances image with economics relative to Cologne's top-tier corridors.

Market Context: Re-Letting Activity and Availability in German City Centers

The Teveo lease is part of a broader pattern of tenant rotation and repositioning playing out across German high streets. Cologne's availability rate in prime retail stands at approximately 14.5% by area and 20.0% by store units among Germany's major cities, reflecting ongoing churn as landlords work to replace departed tenants with new concepts. That elevated availability has created conditions in which incoming brands can secure prominent flagship locations that were previously difficult to access.

The sequence at Ehrenstraße 69 — an international fashion brand's exit, followed by interim occupancies, followed by a new sportswear flagship — illustrates the re-leasing trajectory common to German high-street assets in the post-pandemic and omnichannel adjustment period. For Deka Immobilien Investment GmbH, securing Teveo as a long-term anchor in a fully let, heritage-protected building represents a stabilization of the retail component after a multi-year backfill process.

About the Parties

Teveo is a sportswear brand with a focus on fitness, running, Pilates, and yoga. The Cologne flagship will be the brand's first retail location in Germany.

Deka Immobilien Investment GmbH is a German open-ended real estate fund manager and part of the Deka Group.

JLL (NYSE: JLL) is a global commercial real estate services and investment management firm with annual revenue of $26.1 billion, offices in more than 80 countries, and more than 113,000 employees as of March 31, 2026.

Sources

• JLL Germany Newsroom — Teveo eröffnet Flagshipstore auf Kölner Ehrenstraße (Sept. 17, 2026)