Construction of Logport West in a suburb of Prague is past the halfway mark, and there’s just 30% of the 45,000 sqm still available to lease. Logport Development director David Vais says the entire project should be fully built and leased by December. Rather than a typical industrial park, Logport West is a combination of light production and warehouse spaces with smaller units that target companies who need showrooms, sales and office space. Even less typically, there’s also going to be a small retail park, a Lidl grocery store and a gas station. Weirdly enough, it’s the first ever built on the D0 ring road.
In fact, it’s unlikely the residents of Jinočany: while the project could have given Jinočany residents direct access to the D0, they said ‘no’. The fear was that cars would flood into the village anytime the D0 became clogged, or whenever the same happened heading into Prague from the D5. By the same token, there are two parking lots for the Lidl: one for access from Jinočany and another for shoppers arriving from the D0 or Stodulky. The two lots are not connected and are separated by a steep grade to prevent people from trying to barge through.
Vais originally set rents at Logport West between €7 and €8 last year, but they’ve since risen by approximately 10%. He notes that despite continuing inflation and the lack of vacancy around Prague, rents are no longer skyrocketing. Invesco acquired the project in a forward deal completed towards the end of 2022. The price it ends up paying will be determined once the park is leased and stabilized.
