WE HAVE HANDED OVER NEW MANUFACTURING AND STORAGE PREMISES IN ARETE PARK PLZEŇ TO THE TENANT
Prague, 1st December 2023
A few days ago, the French company Oxymetal, which specialises in metal processing and the production of metal components for various industries, including the automotive, energy and construction sectors, became a long-term tenant of the ARETE Park Plzeň Borská Pole complex when it took over a new industrial hall.
The completion of this project increases the total leasable area of the ARETE INDUSTRIAL fund by 4% to a total of 140,487 sqm. At the same time, the share of manufacturing increases to 14% of the total portfolio and the exposure of the funds' assets in the Czech Republic increases to 49%. As of December this year, the new facility has also increased the WAULT of the portfolio which is now over 7 years.
The industrial park project in Plzeň is also exceptional in that way it is the first complete modernisation of a brownfield site. The former meat processing plant was completely revitalized and turned into a modern complex providing not only manufacturing, but also storage and retail space for several creditworthy tenants.