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.

Panattoni is building a distribution centre in Siedlce and by doing so, it is also opening up a new market for warehousing space in Poland. Panattoni Park Siedlce comprising 24,600 sqm is to be an alternative location to Warsaw and shall meet the demands of e-commerce, as well as of local business development. The project is being built not far from the centre of the city near the A2 motorway just over an hour from Warsaw.

The construction of the last hall of the biggest industrial park in Poland in which Accolade invested has begun. With 229,000 sqm of 100% leased GLA, Park Szczecin is one of the biggest multi-let parks in the country and will be fully completed in early 2022. From the very beginning, AUTODOC Logistics – Polish branch of the international AUTODOC Group, one of the leading players in the automotive aftermarket – has been growing together with Accolade and Szczecin Park and successfully expanding. With the fourth hall and a total leased space of 74,100 sqm, AUTODOC is now one of the largest tenants in the Polish part of Accolade’s portfolio.

LCube is constructing another warehouse park - following their recent project in Jasionka near Rzeszów, (which is still being built), this new site location will be in the town of Dobrzykowice, east of Wrocław. As currently planned, the logistics complex is set to have a total area of 60,000 sqm. The project is being carried out in a joint venture with the Sindbad Group.

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.

Global Reach Logistics (GRL), a third-party logistics (3PL) provider, has leased an 11,680 sqm warehouse space in the distribution centre Prologis Park Poznań. The business venture is a transaction in cooperation with AXI IMMO and the Czech consulting company 108 AGENCY, which run joint projects within IRELS, an organisation of international specialists in the logistics real estate sector.

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

Panattoni has turned its focus back onto the Warsaw market. In a strategic location – close to the planned New Central Polish Airport – Panattoni Park Błonie III is now under construction. The investment with an area of more than 90,000 sqm has already started and has its first tenant: logistics operator GTFL, which specialises in full truckload and international transportation. The company will consolidate the space it currently occupies in the country at the end of this year, when it will move into its newly leased 7,700 sqm premises. It was represented by consultancy Cresa Polska for this transaction.