News Article Accolade Czech Republic industrial lease logistics Panattoni Europe tenant
by Property Forum | Industrial

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. 

Construction of the Okrouhla (Cheb East) park started in December 2022 and is now about halfway through. It is expected to be completed and handed over to the tenant in the first quarter of 2024. The hall in the newly built Cheb Park is designed according to the most stringent sustainability benchmarks for industrial buildings and will aspire to achieve the highest BREEAM New Construction certification rating of Outstanding. Photovoltaics are planned for the roof, heating and air exchange will be provided by heat pumps and grey water from an underground tank will be used for flushing. The site will also include electric vehicle chargers, a relaxation zone and a fitness centre.

"This collaboration points to several key trends that support the industrial real estate segment's move towards a more sustainable Europe. The companies' ambitious visions to bring production and supply closer to their target markets while saving the planet or, perhaps even more importantly, as in the case of Goodyear, to produce as much as possible from sustainable materials and develop new technological solutions, make us a more self-sufficient company," said Milan Kratina, CEO of Accolade.

Employing around 75,000 people worldwide, Goodyear has recently come up with several green innovations, from the introduction of tyres whose compound is overwhelmingly made up of sustainable materials to visions of tyres capable of regeneration. Shortening the distance between distribution centres in Europe will make the supply chain more efficient, which, as well as faster delivery times for end customers, will also mean a reduction in carbon footprint.

Accolade entered the Carlsbad region in 2013. In that time, it has invested in a total of nearly 300,000 sqm of manufacturing, e-commerce and logistics space here. The value of completed and handover projects exceeds CZK 7.5 billion (€307 million) and properties worth around CZK 9 billion (€368 million) are now under construction. Currently, Accolade's portfolio in the region includes a total of eight completed buildings with 12 tenants. The group's main activity is concentrated around the city of Cheb, where the largest distribution centre in the Czech Republic is currently being built in Cheb Park, for example. The Group is also significantly involved in the development of local infrastructure, owning, for example, a German entity with interests in regional companies focused on water supply, wastewater disposal and heat and power generation.