A total of 103,000 sqm of production and warehouse space was delivered to the Czech market during the second quarter of the year, a 55-percent increase from Q1, according to the latest figures released by the Industrial Research Forum (IRF). Through June 30, 169,000 sqm of new stock was completed, bringing the total volume of industrial space on the Czech market to 4.6 million sqm. Of the 160,000 sqm of new industrial space currently under construction, 15 percent is being built on a speculative basis, according to IRF.
The largest project to be completed on the Czech industrial market so far this year was the 33,000 sqm research and development center developed by CTP in Brno. A 39,000 sqm distribution center for VF Corporation is currently underway at PointPark Prague D8, but it is not expected to be completed year.
The countrywide vacancy rate was at 8.1 percent in Q2, while Prague 8 percent of all space was empty at the end of the second quarter. Prague accounted for 39 percent of total vacancies in Q2.
