ARTICLES LABELLED WITH TAG industrial

According to Savills, the Czech nationwide industrial vacancy rate declined again and reached a new historic low of 2.4%, after dropping by 89 basis points (bps) since the end of 2020. The volume of new industrial space delivered to the market during H1 2021 was 43% down year-on-year (y-o-y). The total stock of modern industrial premises in the country grew by 192,300 sqm, of which 110,800 sqm were completed in Q2 2021. At the end of June, the total stock stood at 9.3 million sqm.

The total stock of industrial and logistics spaces gained close to 200,000 sqm in the first half of this year to more than 5.4 million sqm and the sector will continue to expand by the end of 2021, according to data from real estate consultancy Avison Young. 

A lack of materials and an increase in the price of construction work is troubling the industrial real estate market in the Czech Republic. Industrial space in desirable locations is in short supply. Occupancy rates in Prague and the close surroundings are rising and vacancy rates have almost reached zero. Tenants are well aware of the situation and it has become more common for them to extend their lease contracts for longer periods, according to 108 Agency’s market summary.

Total take-up on the Bratislava office market reached 37,000 sqm which represents a year-on-year increase of 19.5%. As the pandemic slowed down, retail leasing activity also returned and with it the surge in footfall and turnovers. Total quarterly industrial/logistics take-up recorded a strong 22% year-on-year growth, reaching 146,300 sqm. Cushman & Wakefield published its Q2 2021 industrial, office and retail market reports focused on the Slovak market.

Ecologistics, a 3PL company operating in the Czech Republic since 2017, has been expanding recently on the Czech property market, leasing in total 63,300 sqm of Class A commercial space in 4 industrial parks in Prague-West and in Pilsen-Stenovice from Prologis, GLP and Logicor. Ecologistics serves global e-commerce companies whose goods have been delivering to customers in the Czech and Slovak Republics as well as in Germany. The distribution centre in the Czech Republic was the second logistic hub Ecologistics opened in Europe after having entered the UK market. The firm has so far built a robust logistic framework across Western Europe, currently leasing premium logistics space also in Germany, France, Spain and Italy.  

Geis Logistics Hungary Kft., the local representative of the German-based transport and logistics company has signed a lease agreement for a custom-built production facility at CTPark Vecsés, near Budapest. The Geis Group will store Knorr-Bremse Systeme products in the new almost 16,000 square meters logistics facility with extra features related to the braking systems for rail and commercial vehicles produced by Knorr-Bremse Group.

Investments in Romania’s commercial real estate sector amounted to €303.6 million in the first half of the year, which was a drop of 21% compared to the same period of 2020, according to CBRE Research data. 

Tomasz Mika has been appointed Chief Financial Officer, effective August 1st, by the management board of 7R. He heads the company's financial division and is responsible for finance, accounting and controlling. He will also support 7R's business development in Poland and foreign markets.

Czech asset manager BH Securities, through its BHS Real Estate Fund, is investing in a new logistics park near Bratislava in cooperation with Panattoni.

The ČS nemovitostní fond, managed by REICO, is acquiring Panattoni Park Tychy DC1 in Poland. The value of the acquisition is approximately CZK 1.1 billion (€42 million). This brings the number of properties owned by the fund to 19.