CR sells 4,600 m2 German retail site

CR Investment Management has sold the 4,623m2 former Hertie department store in Höxter, Lower Saxony, to Fokus Development.

Financial details were not disclosed.

The building is part of the Mercatoria portfolio, which CR has been asset managing since 2012.

Fokus is planning an €8 mln redevelopment that will increase the lettable area from 3,200 m2 to 3,700 m2.