Gross take-up of warehouse space on the Czech market reached 344,700 sqm in the third quarter, down 7 percent q-o-q and 14 percent y-o-y, according to the latest report by the Industrial Research Forum. Vacancy in Prague dropped below the country’s average of 5.7 percent to 5.3 percent. Net take-up in the third quarter totaled 223,100 sqm, a 14-percent drop compared to the previous quarter.
Demand was driven by logistics companies, which took 42 percent of the leased space. The largest deal in the third quarter was a 28,600 sqm pre-lease by an undisclosed logistics operator at CTPark Prague East, followed by a pre-lease by VF Corporation on its custom-built space at P3 Prague D8 (23,400 sqm). The largest renegotiation of the quarter was concluded by Sumisho Global Logistics, which renewed a 26,600 sqm contract at CTPark Plzeň.
