The real estate consultancy 108 AGENCY is launching an electronic auction in cooperation Prologis in order to find a tenant for 17,130 sqm of warehouse space in Prologis Park Prague D1 West II. The auction aims to provide candidates with exactly the same conditions in the most transparent environment, with an effective comparison of the bids submitted. This innovative method has not yet been used in the Czech Republic.
The well-established location on the eastern outskirts of Prague is has long been the most sought-after destination among companies looking for modern warehouse space near the key D1 motorway. Due to the long-term nature of demand for the location, Prologis has decided to test out an electronic auction of warehouse space in an existing unit. The industrial property developer wants to use this new concept to fill the park’s vacancy in the most transparent way possible and to offer all companies the same “starting conditions”. The selection criteria will include not only the highest rent but at the same time the electronic auction will evaluate parameters such as the size of the required warehouse area or the length of the commitment offered by the client.
“Our projects near the D1 motorway offer warehouse premises in the immediate vicinity of Prague, ensuring perfect access to the European motorway network. We expect strong interest and look forward to the offers that will come out of the auction,” commented Martin Baláž, Director Leasing & Development Manager Czech Republic & Slovakia.
The partner of Prologis in this project is the real estate consultancy company 108 AGENCY. Under its heading, the exact specifications of the auction conditions have been prepared, as well as the on-line platform www.warehousebid.cz, on which the auction will take place through the tenders submitted by individual bidders. They will then have the opportunity to adjust their offer in the second round of auction.
