SUCCESSFUL SALE OF DEVELOPMENT SITE IN PILSEN, CZECH REPUBLIC TO MOUNTPARK LOGISTICS EU
Modesta Real Estate sold a 17 HA development site in Pilsen, Czech Republic to Mountpark Logistics EU in June 2015. Mountpark Logistics EU, a Luxembourg domiciled joint venture between USAA Realco – Europe B.V., the dutch subsidiary of USAA real estate and Mountpark Finco, prospectively starts with the logistics development of the site in Pilsen in October 2015. In the first Phase, 45.000 sqm of logistics space will be built speculatively. As Mountpark Logistics EU is highly convinced of the site’s perfect location at the highway D5 exit 100 (Prague- Pilsen-Germany), it has secured an option right to buy adjoining sites. “The logistics and industrial site at Pilsen provides ideal traffic connections and is located at one of Europe’s most important hubs with the highest trading volume. Due to the excellent cooperation with Modesta Real Estate we realised the market launch in Czech Republic”, says Hans van Luijken, MRICS, CCIM, managing partner CE of Mountpark Logistics EU.
The logistics market in the Czech Republic is consistently increasing. Sebastian Scheufele, SIOR and Managing Partner of Modesta Real Estate: „Due to the proximity to Germany, the competitive wage level and the increasing education of qualified employees, Czech Republic evolved into one of the most attractive markets to investors within the CEE region. In cooperation with Matthias Cruzin , who represented the owner, 17 HA of development site in Pilsen were sold.“