ARTICLES LABELLED WITH TAG tenant

Fitch Ratings has affirmed Globalworth's Long-Term Issuer Default Rating (IDR) and senior unsecured debt rating at BBB- with a stable outlook, noting the company's efforts in deleveraging and its robust commercial portfolio across Poland and Romania.

European developer and owner of semi-industrial and logistics real estate VGP has just handed over space in Hall A of VGP Park Ústí nad Labem City to two tenants.

The third fund of the real estate and investment group Arete has completed the development of a modern industrial complex in the urban area of Pilsen, Borská pole. The long-term tenant of the hall will be Oxymetal CZ, which specializes in metal processing and production of metal components for various industries, including automotive, energy and construction. 

Accolade Group continues to expand its activities in the Karlovy Vary region and is directing another investment of billions of crowns to the region. In cooperation with developer Panattoni, it is currently continuing to prepare a brand-new industrial complex in Okrouhla (Cheb East) with an estimated value of CZK 2 billion (€81 million) and a planned area of 80,000 sqm, of which 60,000 will be taken over by the first tenant, the American tyre manufacturer Goodyear, at the beginning of next year. In addition to this project, Accolade owns two other parks in Cheb, with the area of all three projects expected to reach almost 600,000 sqm in the future. 

Australian firm Equiem, which offers tenant services for office buildings, has acquired SpaceOS, a European company for workplace management software, in a deal that adds Hitachi as a partner, Reuters reports.

The Port7 office project by Skanska has received the occupancy permit. Port7 offers 35,800 sqm of premium office and retail space in three buildings, 50 percent of which are leased now. Skanska is now shifting its focus to finishing the nearly 2-hectare public park and the new riverside, which is expected to become the new centre of Prague Holešovice. For better access to the entire area, the developer has built an extension of the railway underpass which directly connects the project with the subway, train, and tram station of Nádraží Holešovice.

Zeitgeist Asset Management has signed a lease agreement for 2,600 sqm of premium space in Prague's Dunaj Palace with the Czech Representation of the European Commission and the European Parliament Liaison Office. It will include a visitor center for the public. Approval of the reconstructed palace should be in 10 months. The lease agreement is signed for 15 years, Zeitgeist announced.

Vastint has leased nearly 13,400 sqm in three Business Garden complexes in the last months of 2022. The new tenants of Business Garden Wrocław are VSB Energie Odnawialne Polska, Smartbear Software, IDOM, and Jabil Poland, which leased a total of more than 4,200 sqm of office space. In addition, two current tenants of the complex, Gates Business Services Europe and iTechArt, have expanded their existing offices by an additional 2,400 sqm. The Business Garden Poznań tenants were joined by Deloitte and Paypro SA, which leased a total of 2,720 sqm. Business Garden Warsaw also gained new tenants, Astellas Pharma, Stadler Polska, TLScontact and United Imaging Healthcare Poland. Along with the expansion agreements signed with current clients, the Warsaw complex leased 4,074 sqm of office space.

Penta Real Estate secured one of the largest office contracts in the Czech Republic in Q3 2022. Fio banka's headquarters will move to the Masaryčka office complex, designed by London-based architectural studio Zaha Hadid, in spring 2024, Seznamzprávy.cz reports.

As service charge budgets are set for 2023, occupiers and landlords with vacancy can expect significant operational cost increases across their real estate portfolios. Property Forum talked to Ryan Wray MRICS, Principal at Avison Young Czech Republic to understand what you can do to make savings and get better value from your budget.