Construction work on the latest joint project of the German group GARBE Industrial Real Estate CEE and the investor Progresus started in April 2023. The modern industrial hall GARBE Park Chomutov II with a total leasable area of almost 21,000 square meters is already 73% leased and intensive negotiations are underway with potential tenants of the remaining 27% of the available capacity.
Construction of a new logistics centre GARBE Park Chomutov II began in April between Chomutov and Klášterec nad Ohří. A modern industrial hall with a usable area of almost 21,000 square meters will be built on land with a total area of over 45,000 square meters by the end of this year. It follows the success of the existing industrial project GARBE Park Chomutov I, whose total gross leasable area (GLA) is 30,000 square meters. Construction work began on schedule in April 2023 and is scheduled for full completion in the last quarter of this year.
“The project is attractive for tenants due to its location in the sought-after Verne industrial zone on the R13 road and the D7 motorway leading directly to Germany, but also due to the fact that the hall will meet the highest ESG standards for sustainable construction of industrial real estate according to BREEAM Excellent certification,” says Lukáš Zrůst, co-owner of the investment group Progresus, which provides majority financing for the project with a total value of over half a billion CZK.
With the project near Chomutov, Progresus, whose best-known assets include RD Rýmařov, the largest Czech supplier of timber buildings, has entered the field of industrial development, in addition to residential construction, together with GARBE, a renowned player in this field. “Our long-term development plans are based on innovative and sustainable projects, and this is what we have in common with GARBE. The potential of industrial complexes in this respect is enormous both due to the strategic location of the Czech Republic in the heart of Europe and with regard to the requirements of tenants, who are increasingly taking ESG parameters into account when choosing a specific real estate,” says Zrůst.
For GARBE Industrial Real Estate, the joint project with Progresus Group is the third Czech investment in a short period of time. It will be an addition to its first strategic location in Central Europe, GARBE Park Chomutov I which is just being completed in the same industrial zone. “The German eyewear manufacturer Fielmann Group, whose shares are traded on the Frankfurt Stock Exchange, has leased the site from us for a period of 15 years. And we already have a large reputable tenant for the second industrial complex GARBE Park Chomutov II,” says Martin Polák, GARBE Managing Director for Central and Eastern Europe.“We are currently negotiating the occupancy of the remaining 30 % and I expect that by the beginning of the summer we will have concluded lease agreements for this capacity as well. We would like to announce the names of the tenants during the topping out ceremony at the beginning of June,” adds Veronika Zacha, Senior Business Development Manager in GARBE Group.
GARBE Industrial Real Estate It is a prominent development group specializing in logistics and industrial real estate in Europe. It is based in Hamburg, Germany and has been successfully operating in the market for more than 30 years. During this time, it has become a key partner for companies providing services in transportation, logistics and manufacturing industries. GARBE Industrial Real Estate’s logistics portfolio consists of more than 5.3 million square meters in 194 development projects in six countries. The Group manages its own and investor assets with a total value in excess of EUR 10 billion. GARBE Industrial Real Estate is a subsidiary of the family-run real estate firm GARBE, which was founded in 1965 by Bernhard Garbe.