Through a forward financing structure, Logport Development and Invesco Real Estate have committed to build the Logport Prague West logistics complex with an area of 37,900 square meters, which will be built in a strategic location close to the Prague Ring Road. The transaction was brokered by Cushman & Wakefield. Logport Prague West, whose construction started in September 2022, has already attracted the first tenants who will move in in the summer of 2023. Completion of the entire commercial zone is scheduled for the first quarter of 2024.
During this year, when it celebrated 15 years on the Czech market, the development company Panattoni managed to complete six industrial buildings with a total area of over 243,000 square meters, in which more than 2,400 new jobs were created. The company signed 18 contracts with new clients, which will bring at least 3,500 additional jobs. At the same time, it currently has 11 new halls under construction, occupying 545,000 square meters. Panattoni's largest completed building is Amazon's distribution center in Kojetín, which stands out for its advanced technologies and environmental friendliness.
The CTP company has made significant progress in building the sustainable CTPark Hradec Králové industrial complex. High-quality background for business will help with the development of the entire location and will bring many new opportunities for enriching not only the business environment in the Hradec Králové region.
Pilsen and Ústí nad Labem are due to the proximity of the German border and that they intersect them important highway moves, logistically attractive regions. The P3 industrial developer currently offers almost 40,000 m2 immediately for rent. Another 64,000 m2 can be built to measure.
In the third quarter of 2022, the Czech industrial real estate market grew at the fastest rate in history and increased by a total of 511,100 m2. In the first half of this year, the total supply exceeded 10 million m2 and currently stands at 10.65 million m2. The vacancy rate fell to 0.99%, the lowest number on record during the market's monitoring period.
The industrial developer CTP is noticing a growing interest in smaller multifunctional spaces up to 2,000 square meters. He estimates the increase in demand this year by 10-15%. For example, in the Ponávka business park in Brno, which CTP owns, there is a long-term interest in small premises despite their full occupancy. The company has therefore built two CTBox-type buildings in the revitalized brownfield CTPark Brno Líšeň, in which it is possible to rent multifunctional spaces starting from 400 square meters. The same type of units is now available in CTPark Hradec Králové.
The triangle between Mstětice, Nehvizdy and Jirny is a logistically strategic location due to its proximity to Prague, the D11 highway and road 611. In the last six years, the industrial park P3 Prague D11 has also grown here. The last building in it was custom-built and handed over to the company QSL, which focuses on packaging solutions and labeling in the food segment, among other things.
