German coffee chain Tchibo is half-way through the completion of one of the largest logistics halls ever built in the Czech Republic, in partnership with developers Panattoni Europe and Accolade.
Phase 1 of the 73,000 m2 scheme has just been delivered with a total rentable area of 39,000 m2. The second phase of the project will complete in the middle of next year, making the centre the second largest new build in the region after Amazon's hub in Dobroviz.
Czech company Accolade is acting as investment partner, and will be the owner and long-term landlord of the scheme.
'Tchibo is one of the largest retail chains, so we are pleased that for its expansion the company picked our park in Cheb. The profile of this company also fits perfectly among our existing tenants, where we now have a fairly significant representation of automotive and mechanical engineering. Tchibo thus contribute to increasing the diversity of the portfolio of tenants,' said Milan Kratina, CEO of Accolade.
'Our goal is to contribute to the economic growth of the region and open it up to a wider group of qualified investors, in particular from the Czech Republic, to participate in revenues of leading global companies operating on our market. Securing lease of the building for Tchibo fulfills these criteria completely,' added Kratina.
Tchibo is currently a major global coffee roaster and holds a leading position in online fashion retail in the Czech Republic. It said that the centre would create up to 350 jobs in the region and should start operation by year-end. Construction commenced in May of this year.
