M7 Real Estate, a pan-European real estate investor and specialist asset manager, has agreed on a number of transactions as part of its proactive asset management programme on behalf of Vector Parks. Vector Parks comprises a portfolio of industrial and office assets located in the Czech Republic and Slovakia. Over the last six months, M7 has completed six new lettings and four renewals totalling over 20,500 sqm with predominantly anchor tenants.
New tenants include the canteen operator PRIATELIA, which has taken c. 220 sqm of retail space at Vector Raca, Bratislava (Slovakia) where it will operate a summer terrace with modern café services.
In addition, storage and information management solutions provider, Iron Mountain, has expanded its storage space at Vector Raca to c. 6,700 sqm and agreed its fifth lease extension with a long-term lease. As a result of Iron Mountain’s expansion, wholesale business Quimilock has agreed to relocate to a c. 1,000 sqm production unit with a new lease. Additional lettings have been secured with Provino, a successful wine merchant, which has taken a further c. 100 sqm and committed to a new lease and safety products provider, IKAR, which has taken a further 1,800 sqm. These lettings demonstrate the strength of Vector Raca as a strategically important location for businesses.
A further 4 tenants have extended their leases recently, including Smart Cargo, which renewed its lease on c. 7,500 sqm at Vector Ostrava, Mosnov (the Czech Republic) and Van Mieghem, which renewed its lease at Vector Parks Svaty Jur, Bratislava (Slovakia).
M7 continues to progress several marketing initiatives to improve Vector Parks’ brand recognition across the region, supported by its on-going proactive asset management programme. Works to fully modernise Vector Parks Raca, Svaty Jur and Maly Saris, have also been completed, with all assets now meeting the latest market standards.
