The Czech industrial real estate market has experienced a major boom in construction activity in 2023. Although there is currently more than 1.5 million sqm of space under construction, there are few newly completed projects and the vacancy rate remains below 2%. The total supply of modern industrial space in the Czech Republic increased by only 182,200 sqm during Q3 2023, bringing the total to 11.44 million sqm at the end of September. Rents have stabilised after rocketing over the last three years and at the end of September were between €7.50-7.70 per sqm per month for warehouse space and €9.50-12.50 per sqm per month for office space, reported, according to a Colliers survey. 

According to Cushman & Wakefield, leasing activity bounced back strongly on the Polish industrial market in Q3 2023. Meanwhile, development activity was largely driven by pre-lets and BTS projects, with rental rates remaining flat in most regions.

7R is launching its next project in Pomerania. Construction of 7R Park Gdańsk III in Barniewice has just started. Complex SAD has become the first tenant. The company was represented in the negotiations by Newmark Polska consultants.

Around 555,000 sqm of industrial and logistics parks are currently under construction and are planned to be completed in the Q4 2023 - Q4 2024 period across Romania, with 315,000 sqm being already pre-leased, according to a Cushman & Wakefield report.

VGP has handed over its brand new premises to Dachser Czech Republic in VGP Park České Budějovice in the Světlík commercial zone. Hall D, which has just been completed, covers 14,000 sqm and was built to suit this international logistics service provider as a further extension of its existing premises in Hall C, which covers over 9,000 sqm. It will primarily be used for contract logistics. The building aspires to a BREEAM green certification of Excellent, VGP announced. 

Garbe Industrial Real Estate announced a strategic collaboration with Raiffeisenbank on their 49-hectare site at GarbePark Ceske Budejovice. The first building has been handed over to the client Taconova and is only the start of the up to 80,000 sqm development potential in the first phase, with over 150,000 sqm to follow. The strategic collaboration includes €20 million loan for Garbe development in Ceske Budejovice. 

Panattoni has launched the construction of Panattoni Park Grodzisk V in the village of Natolin with the development being financed by a €17 million loan. The financing has been provided by BNP Paribas bank. 

Havi Logistics has leased more than 16,000 sqm of new space within the expanded MLP Poznań logistics centre. The facility for the company will be equipped with solar PV panels, heat pumps, and electric vehicle charging stations. Once completed, the new space is scheduled for handover at the beginning of the second half of 2024. Colliers’ Industrial and Logistics Department advised on the deal.

Logicor has signed a leasing agreement with Martex, a Polish distributor of truck spare parts, for a c. 45,000 sqm standalone warehouse at Logicor Będzin.

Logicor has started construction of its first regional logistics park in the Czech Republic. The site, located close to key road networks linking Prague and the city of Liberec, was a brownfield and is being redeveloped in two phases to create two modern warehouses, totalling 20,000 sqm, including 1,800 sqm of office space. One of the buildings will have a cross-dock facility.