ARTICLES LABELLED WITH TAG industrial

Net take-up on the Czech industrial market in Q2 2017 totalled 231,200 sqm, representing a yearly decrease of 11%. The vacancy rate reached 4.1%, having decreased marginally by 6 bps since Q1 2017. The Industrial Research Forum announced the industrial market figures for Q2 2017. 

CTP recently closed on two acquisitions, known among the CEE real estate industry as the Aviva and IPEC deals. The company acquired two buildings in the Czech Republic and two buildings in Romania. At the same time, CTP disposed of two non-core assets in Bratislava and Prague.

Panattoni Europe launched the courier parcel distribution centre project for GLS Poland. This cross-dock facility will cover approx. 7,600 sqm and is being developed in the BTS and BTO formula in Janki near Warsaw. Execution of the project officially commenced on 20 July and the actual project start-up is scheduled for February 2018.

Colliers International has announced the off-market sale of two industrial properties in the Czech Republic by Red Group for a total consideration of almost  CZK 1 billion, in yet another sign of the growing attractiveness of Czech industrial real estate to investors.

CTP, the European Bank of Reconstruction and Development (EBRD) and BCR announced the closing of a credit facility totalling €75.8 million, of which €36.7 million were granted by EBRD and €39.1 million by BCR. The loan will support the expansion of CTPark Bucharest West by two new warehouses totalling over 70,000 sqm. The total investment in this expansion phase will reach €108.9 million. With a total planned 600,000 sqm lettable area, CTPark Bucharest West is designed to become the biggest, as well as fastest growing industrial park in the country and the region. BCR acted as mandated lead arranger, documentation, facility and security agent.

Total demand on the Budapest industrial property market amounted to 212,750 sqm in Q2 2017, which is the highest quarterly volume ever on record. The Budapest Research Forum published its quarterly industrial market analysis.

Prologis has completed a state-of-the-art 30,250 square metre build-to-suit facility at Prologis Park Prague-Jirny for HP TRONIC, a retailer of consumer electronics in the Czech Republic and Slovakia. With the delivery of this facility, the park is fully developed.

Panattoni Europe has signed a lease with Multidekor, maker of professional ornaments and festive lighting solutions for cities and shopping malls. The transaction covers 22,600 sqm of warehouse and production space at the planned Panattoni Park Konotopa II. The development is set to commence this autumn, and will be completed in April 2018.

After entering the Hungarian market in 2016, M7 Real Estate has chosen the Budapest office of CBRE to manage the entire Hungarian real estate portfolio within the M7 CEREF I Fund. 

According to its analysis of the Czech industrial & logistics market, CBRE monitors a significant increase in end-user demand and resulting developer and construction activity in the still relatively unestablished location of Northwest Bohemia. Combined with already strong activity in West Bohemia, the region of West Northwest Bohemia currently represents the most active region in the terms of construction activity for the first time in history and even outpacing the Greater Prague Region. The West Northwest Bohemia region will be a driver of new supply in 2017 and together with the Greater Prague area will account for approximately 80% of newly to be delivered space in the Czech Republic in 2017.