ARTICLES LABELLED WITH TAG industrial

CTP has so far concluded lease deals with a total area of over 400,000 sqm for space in industrial properties in the Czech Republic in 2023, including more than 10 lease contracts for premises larger than 10,000 sqm. The largest transaction was a contract to renew the lease of almost 54,000 sqm of space in CTPark Bor. The developer continues to build new industrial space across the Czech Republic and is confident that the Czech industrial property market will continue to grow. 

Topband Smart Europe, a Chinese maker of controllers for power tools, home appliances and BMS, has inaugurated its production capacity for the European market in CTPark Timișoara.

A new logistics and industrial centre was opened in the area between Chomutov and Klášterec nad Ohří (west of Prague near the German border) for CZK 520 million (€21.4 million). The construction of the Garbe Park Klášterec II project with a total leasable area of over 18,000 sqm was completed in eight months. Representatives of the Progresus investment group and the developer and co-investor Garbe have already handed over the building to the main tenant, the German manufacturer of sealing systems Isolite. 

Contera has deepened its cooperation with Valeo. At Contera Park Prešov in Slovakia, where the French global company has been operating for a long time, it will expand its premises by another 11,000 square metres, reports the online magazine systemylogistiky.sk.

DHL Group's subsidiary DHL Supply Chain will move to the PT1 warehouse building in the HelloParks Páty logistics centre in early 2024. The logistics provider has secured 20,000 sqm of industrial space in the building.  

The Budapest Stock Exchange (BSE) Standard section has welcomed Biggeorge Property REIT Nyrt. shares, owned by Biggeorge Property Zrt. This REIT has an extensive portfolio of industrial parks and is the fifth such company traded in BSE. 

Panattoni has completed and officially opened a BTS facility for Vita Group, an international polyurethane foam manufacturer, within Panattoni Park Żary. The developer plans to expand the park by an additional 7,000 square meters, with the new space being adapted to the specifics of the future tenant's operations.

East Gate Pro Business Park, Wing’s latest industrial development project, has reached a new milestone with the delivery of hall A2 in phase two. An additional area of 9,100 sqm is available in the newly completed building for production, assembly, fulfilment and warehousing purposes.

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. 

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.