On behalf of a German client, JLL’s Industrial Agency and Capital Markets Teams cooperated to sell the real estate component for a unique medical production operation in the Central Bohemian region of the Czech Republic in a 10-year sale & leaseback transaction. The asset also includes over 10,000 sqm of land with development potential.
The deal was especially interesting due to a short marketing and due diligence process and closing one day prior to Christmas, in addition to transacting entirely during the COVID pandemic.
With the purchasers being local Czech capital, the deal demonstrates a strong appetite for well-maintained Class B production facilities in excellent locations and key sectors such as medical and health consumer goods.
"We took on the mandate not really confident about the liquidity for this type of transaction in this part of Central Bohemia. However, the buildings presented much better on a site visit than they did in the brochure. And the German-owned company was very well organised and in a growth phase. Following the soft marketing phase, we were pleasantly surprised to be in a competitive situation of over 5 buyers. The experience has demonstrated to us the depth of interest for single-tenanted sale and leasebacks in good locations around Czechia," commented James Fitzgerald, Director, Head of Industrial Agency at JLL.
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