Panattoni has begun construction on the next phase of Panattoni Park Týniště in the northeast of the Czech Republic. The project’s investor is DRFG Real Estate’s fund Czech Real Estate Investment Fund (CREIF). This latest phase of the project will add 26,000 sqm of leasable space in two buildings, bringing the park’s total GLA to 40,000 sqm. DRFG’s Josef Šilhánek says the new buildings are being built according to current ESG standards and will both be BREEAM certified. Panattoni’s Pavel Sovička says they’ll be ready for use by the middle of the year, adding that there’s been virtually zero warehouse vacancy around Hradec Králové, Pardubice and Rychnov nad Kněžnou since 2018. The investment marks an expansion of CREIF’s range of assets, since it focuses primarily on food stores and on retailers selling common consumer items. The first tenant of the new space will be C.S.Cargo, which will be operating a warehouse for the electronics retailer Concept.
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