Zeitgeist Asset Management has purchased an office building at ul. Solec 22 in Warsaw and intends to convert into student halls. The office building has been acquired for a German pension fund from Solec 22 z.o.o.

In the first half of 2018, the total volume of modern office space at the main regional markets (Kraków, Wrocław, Tricity, Katowice, Poznań, Łódź, Szczecin and Lublin) exceeded 4,637,000 sqm. Analysts of Cushman & Wakefield report a high absorption level caused by intensified lessee activity in 2017 and pre-rental agreements of office real estate which is to enter the market this year. As a result, despite a large spike in office space supply, the vacancy rate has gone down.

Serbian real estate developer MPC Properties will invest €45 million in the second phase of the Navigator Business Centre office project in Belgrade.

With investor appetite for newly-built offices remaining competitive there is also a continuous demand coming from investors seeking older, yet sustainably rentable offices with high occupancy – these refurbished offices remain attractive for the active funds in Budapest. This time CBRE has transacted Bluehouse Capital’s Margit Palace sale to Adventum TRIUM Real Estate Fund.

Skanska is investing about €29 million in the third phase of Nordic Light office complex, located in the 13th district of Budapest with a total leasable area of 14,000 sqm. Nordic Light Trio is designed to meet the WELL Building Standard.

JLL has been appointed as the exclusive leasing agent for Heweliusza 18 – an office scheme developed in the centre of Gdańsk by Apollo-Rida.

Cushman & Wakefield has become the manager of three buildings of TRIUVA, a PATRIZIA company, including the Five office centre in Smíchov, Wenceslas Square 9 and Lindner Hotel Prague, as well as the new acquisitions of funds managed by Amundi Immobilier Paris and Amundi Czech Republic - Praha City Center in Prague 1 and the Polygon House in Pankrác.

GTC announced the acquisition of a new development project in Budapest, adjacent to GTC Hungary’s Center Point Office Buildings. This new project will be titled Center Point 3 and will add approximately 35,500 sqm GLA of office and commercial space to the flagship Center Point Office Campus.

According to new data from JLL, by the end of H1 2018, total office stock in Wrocław exceeded one million sqm. In the first half of the year, tenants signed deals for more than 58,000 sqm while the market gained another 100,000 sqm of space.

CIT Group, a Romanian retailer specialised in IT equipment, has acquired the Nokia building in Timișoara for €6.2 million which marks the company’s entry into the real estate business. The property will be managed by CIT’s Imobiliare division.