City Park Hostivař in Prague 10 has been acquired by a Western European investment company, represented by BNP Paribas Real Estate. The name of the buyer and the purchase price has not been disclosed.
The new, two-story complex with an area of almost 11,000 sqm in two almost equally large buildings comprises warehouse space as well as retail showrooms and office facilities. The main tenants of the building are Auta Super, P-Lab and Boca.
"At the time of the sale, the building was fully occupied by tenants, including many companies that benefit from the expansion of so-called urban logistics. The new owner thus acquired an asset that will be constantly in demand by potential tenants, as there are not many similar projects on the market," states Jan Bohata, who led the transaction at BNP Paribas Real Estate.
The industrial complex is located in an established production and storage zone on Průmyslová Street. City Park Hostivař offers modern, high-quality storage space divided into two sections with a clear height of 8.9 m and a floor load capacity of 5 t per sqm. Thanks to this, it is ideal for so-called last-mile logistics aimed at end-customers or as a distribution hub for a network of stores in Prague.
“So far this year's investment market results, which have already been affected by COVID-19, show that the attractiveness of industrial real estate among investors will continue to increase, "added Kalina Teneva of BNP Paribas Real Estate, who was also heavily involved in the transaction.
