Globalworth has completed the acquisition of two additional land plots adjacent to its assets on the Gara Herastrau/Barbu Vacarescu corridor of Bucharest for approximately €16 million. These plots are anticipated to allow for the development of 40,000 sqm of commercial (predominantly office) space. The company published an update for its operations.

The year 2017 saw the greatest amount of industrial space built in Europe in its history – more than 3.7 million sqm. This represents a 68% increase over 2016 and a 55% increase over the existing record dating back to 2007 (an additional 1.2 million sqm). The total industrial space in the region has increased by 17% as a result. Such are the results of a survey conducted by Cushman & Wakefield, a company that has been monitoring the industrial property market in the Czech Republic, Slovakia, Poland, Hungary and Romania on a long-term basis.

According to data by JLL, the volume of office investment transactions concluded in Poland for 2017 was approx. €1.6 billion. A record-breaking €970 million of office investment deals was reported in major cities outside of Warsaw.

As of January 2018, BNP Paribas Real Estate was selected to provide property management services for a real estate portfolio of 60,000 sqm commercial properties owned by OTP Real Estate Investment Fund. The mandate consists of 4 buildings: Akadémia Park, Szépvölgyi 22, Raday 42 and a logistics park in Gyál, at the outskirts of Budapest.

The EBRD and IFC, a member of the World Bank Group, are boosting the retail sector in Serbia, Montenegro and FYR Macedonia with €164 million in loans to the investment firm Hystead.

Curzon Capital Partners III (CCP III), a core plus Fund advised by Tristan Capital Partners, has completed a €64 million sale of Praha City Center office to Amundi Asset Management.

Hagag Development Europe is investing over €90 million in its first Bucharest project and the company’s largest residential project in Romania, H Pipera Lake.

Czech online retailer alza.cz plans to bring its new self-service concept store to Hungary, local daily Magyar Nemzet reports. Alza opened its first similar store at Prague’s Flora metro station this January. The store, which is able to serve 1,000 costumes daily, operates with no staff and offers 24-hour accessibility. The company invested nearly €200 million in the opening of the store.

Zalando Lounge, online fashion platform Zalando’s shopping club, plans to build a 130,000 square meters large fulfilment centre together with its developer Hillwood. The new site will increase the logistics capacity of Zalando Lounge and flexibility of operations. Intralogistics will be tailored to the specific requirements of Zalando Lounge, taking temporary campaigns and occasionally larger products from the home category into account. The site will be operated by a provider. About 500 jobs will be created in the mid-term.

NEPI Rockcastle has acquired the Festival Sibiu mall project from Primavera Development for €21 million. Reff&Asociatii provided legal assistance for NEPI in signing this deal.