The third fund of the real estate and investment group Arete has completed the development of a modern industrial complex in the urban area of Pilsen, Borská pole. The long-term tenant of the hall will be Oxymetal CZ, which specializes in metal processing and production of metal components for various industries, including automotive, energy and construction.
Arete Group´s third fund focused on attractive income-generating industrial and logistics assets in the CEE region has completed the development of a modern manufacturing facility within the Arete Park Plzeň, Borská pole industrial park. The long-term tenant of the complex will be Oxymetal CZ, which specializes in metal processing and production of metal components for various industries, including automotive, energy, construction and other segments of the economy. Oxymetal is headquartered in France and has more than forty-five facilities in France and other European countries.
The completed facility is over five thousand square meters in size. In addition to the latest technical specifications, it also boasts modern sustainable technologies, including, for example, automatic irrigation of the green roof with accumulated rainwater, or a charger for electric vehicles. The industrial park project in Pilsen is exceptional in that it is the first complete revitalization of a brownfield site. The former meat processing plant has been completely modernized and transformed into a modern complex providing not only warehouse but also production and sales areas with a total area of 17,837 sqm.
“The completion of the site will increase the total leasable area of Arete Industrial´s stock by 4% to a total of 140,487 sqm. At the same time, this move increases the production space to 14% of the total portfolio size. The total exposure of the fund´s portfolio in the Czech Republic has increased to 49%. As of December, this year, the new facility has also increased the WAULT of Arete portfolio (average time to lease expiry) which is now over 7 years,” said Robert Ides, co-founder of Arete Group.
