J&T and Concens Investments have sold five logistics halls in Ostrava offering 140,000 sqm of class A space. CBRE advised the vendors in the €150 million transaction with the investor EQT Exeter. The warehouses are located in two industrial parks: Logistics Park Nošovice and the Ostrava Airport Multimodal Park located in Mošnov. Katarina Brydone (CBRE) says the Czech industrial sector has grown roughly 10% per year for the past decade to reach its current volume of 9.5 million square meters. “Despite that, the demand has exceeded the supply, with ca. 3 million sqm leased in less than three years,” she said. “On the other hand, in spite of a sharp decline in yields, there is still an attractive premium for Czech prime products with yields currently standing at 4.25%.”
The 64,000 sqm Logistics Park Nošovice is completely leased to Hyundai Glovis, a logistics operator servicing the Hyundai Motor next door (where the Tucson and Kona Electric models are produced). Ostrava Airport Multimodal Park is also fully leased to companies such as Continental Barum, DHL, Hyundai Glovis, M.K. Invest, Rhenus Logistics, Skladon and UFI Filters. Daniel Kollar of J&T IB Capital Markets said the deal demonstrated their ability to bring blue chip tenants to first-class investment products built in undiscovered locations.
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