The Czech real estate company CPI has completed the acquisition of an autologistics area in the Slovak town of Lozorno outside the capital Bratislava from AIRE GmbH & Co. for €72.9 million.
“Logistics is the youngest segment of the CPI’s activities developing in the last years. Logistics seems to be the fastest recovering sector. The combination of a high-quality area with significant tenants is a very attractive long-term investment,” CPI Group director Zdeněk Havelka said in a statement.
The Lozorno logistics Park represents Central Europe’s first and largest automotive supply park design and build for suppliers to the German carmaker Volkswagen, the company said. The zone was developed on a site of 25 hectares from 2001through 2005 and comprises five warehouse buildings with total lettable area of 118,000 sqm.
Key occupiers of the logistics park include Inteva Production (Arvin Meritor), Johnson Controls, Brose, IAC Group, Faurecia and Schnellecke.
CPI Group was advised in the transaction by Cushman & Wakefield. George Lewis, Head of Capital Markets at Jones Lang LaSalle Prague, who advised AIRE GmbH & Co. on this transaction commented: “The sale of Lozorno Logistics Park represents the largest investment transaction in Slovakia since 2007 and is a clear sign of improved investor confidence in this market.”
The area is situated 23 km far away from Bratislava, on the highway D2 directed to Brno. It benefits from direct access to the key European corridor connecting Western with Central and South-Eastern-Europe. The existing rail head provision provides rail access to the Volkswagen plant and international trunk lines.