Cromwell Property Group has sold the Čestlice Business Park in Prague-East for €17.5 million to an undisclosed buyer.
The asset was included in the Cromwell European Industrial Fund (CEIF) portfolio. The 14,707 sqm warehousing and light industrial complex is situated in the Průhonice Commercial Zone. It is fully leased to tenants including Potten & Pannen, Cummins, Fiat, Steilmann, Formica and Bizerba.
Cromwell currently manages €981 million sqm of office, retail and industrial assets across the CEE region. It also recently entered into a strategic partnership with Bouygues Construction subsidiary Linkcity to build a portfolio of logistics and light industrial assets in the CEE region with a target gross asset valuation of €500 million.