Investment group Accolade has acquired GARBE Park České Budějovice in the South Bohemian region of the Czech Republic from Garbe Industrial Real Estate.
The acquisition includes the completed and fully leased Hall 4 with approximately 20,000sqm, the newly built 30,000sqm Hall 5, development-ready land plots for future construction, which will be carried out by a joint venture between Accolade and Garbe. The total transaction value exceeds €100m, making it one of the largest commercial real estate deals in the Czech Republic this year and the second-largest in the industrial real estate segment, the pair said.
Upon completion, the park will cover around 490,000sqm with more than 230,000sqm of rentable space. The park includes a mix of logistics, manufacturing, office, and retail spaces.
Accolade will take over asset management of the entire park, while Garbe will continue to provide property and development management. Future construction will be managed by a joint venture between Accolade and Garbe.
Martin Polák, managing director of Garbe for Central and Eastern Europe, said: “Our long-term vision at Garbe is to create modern and attractive industrial parks that appeal to both investors and tenants. GARBE Park České Budějovice proves that we are successfully delivering on that strategy.
“I am particularly pleased that we have secured a strong and reliable partner for further development. This park offers excellent parameters – outstanding transport accessibility, cutting-edge technologies, and a strong focus on sustainability – and will surely become a sought-after address for companies.
Milan Kratina, CEO of Accolade, said: “Thanks to our partnership with Garbe, we have reached another key milestone in our efforts to enhance regional diversification. This is our first expansion into the South Bohemian Region, and we are making a big entry – the park in České Budějovice will become one of the largest in our portfolio once completed.
“We strongly believe in investing in regional hubs like regional capitals, where we can foster new opportunities and support people in building strong foundations for work and life. This is essential for the balanced development and prosperity of both the country and the broader European economy.”
GARBE Park České Budějovice is located 2km from the D3 motorway, which connects Prague through Tábor and České Budějovice to the Czech-Austrian border.
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