A year after its approval, City Park Hostivař in Prague 10 has changed its owner. The new, two-storey complex with an area of almost 11,000 sqm in two almost equally large buildings comprises warehouse space as well as retail showrooms and office facilities. The main tenants are Auta Super, along with P-Lab and Boca.
The new owner is a Western European investment company, which chose the investment team of the consulting company BNP Paribas Real Estate as an advisor for this transaction. The entire transaction, the value of which will not be disclosed by the parties involved, was managed in the short period of less than four months.
The industrial complex is located in an established part of the production and storage zone on Průmyslová Street. It enjoys the advantage of great road network connections as well as an abundance of handling areas and parking. "At the time of the sale, the building was fully occupied by tenants, including many companies that benefit from the expansion of so-called urban logistics. The new owner thus acquired an asset that will be constantly in demand by potential tenants, as there are not many similar projects on the market," states Jan Bohata, who led the transaction at BNP Paribas Real Estate.
City Park Hostivař
City Park Hostivař represents a new generation of industrial real estate. It offers modern, high-quality storage space divided into two sections, with a clearance height of 8.9 metres and a floor load capacity of 5 t per sqm. This means that it is ideal for last mile logistics, aimed at end users, or as a distribution hub for a network of stores in Prague. A unique advantage is the potential connection with a sales showroom or offices - company headquarters.
“So far this year's investment market results, which have already been affected by COVID-19, show that the attractiveness of industrial real estate among investors will continue to increase," added Kalina Teneva of BNP Paribas Real Estate, who was also heavily involved in the transaction.