Developer-led stock on the Czech industrial market totaled 4.9 million sqm at the end of 2014, according to figures released by the Industrial Research Forum. The increase was thanks to 356,000 sqm of new supply, the highest level recorded since 2009, as well as 45,000 sqm of industrial space added to existing stock. Record demand was balanced by the high volume of new supply, which helped stabilize the vacancy rate.
Gross take-up totaled 413,800 sqm in Q4, while net take-up reached 356,200 sqm. Gross take-up for 2014 totaled nearly 1.3 million sqm, up 11 percent y-o-y. Net take-up totaled 827,500 sqm, up 34 percent from the previous year. The largest transaction was a pre-lease to Amazon totaling 133,000 sqm of industrial space at the logistics park developed by Panattoni near the Prague airport. The deal closed in the last quarter of 2014.
“The facility currently under construction for Amazon in Dobroviz will become the largest free-standing industrial building in the Czech Republic since 1989,” said Pavel Sovička, managing director at Panattoni Europe.
