June 19, 2017

Tirex Tyre successfully completes the sale of halls and constructed their own new warehouse facility in Panattoni Park Prague Airport II

Tirex Tyre successfully completes the sale of halls and constructed their own new warehouse facility in Panattoni Park Prague Airport II

CBRE, the world leader in commercial real estate services, has negotiated the sale of existing halls and a selection of solutions for a new hall for the company Tirex Tyre, which deals with wholesale tire sales. The company preferred to own the property. A 15,000 sqm hall, which is part of the modern distribution centre Panattoni Park Prague Airport II, was chosen as the most suitable solution. The custom-built construction will be completed and handed over in July 2017. The sale of the existing 10,000 sqm hall in Modletice was already realized.

CBRE also negotiated the construction of a new hall for Tirex Tyre and the tender for the developer. It took only 12 months from the sale of the halls in Modletice to completing and handing over of the new one, which is a very short time compared to similar projects. In addition, Panattoni Europe offered a built-to-own solution, which is a unique opportunity in the vicinity of Prague. The location is situated in the Pavlov suburb, Prague-West, close to the D6 speedway, making this warehouse and distribution facility very strategically placed, with easy access to Prague Ruzyně International Airport, a direct connection to the Prague Ring Road and the D7 and D5 major transport routes as well as the industrial zone in Kladno and the centre of Prague. Both destinations are available in about 20 minutes.

Michal Urbánek, General Director at Tirex Tyre, said: "The current conditions on the real estate market allowed us to sell the hall in Modletice under very good conditions, which increased our motivation to move and expand the capacity of our hall. We found a partner at CBRE who could help us with both of our properties — by selling our existing warehouse and buying the new one. Thanks to them, we saved both time and energy because they handled the tenders and compared each offer for us. The new hall is built according to A-class standards, not only in terms of property standards as such, but also in terms of tire storage requirements. We are looking forward to operating from this new hall this winter season.”

Lukáš Šaling, Associate Director Industrial & Logistics at CBRE, added: "CBRE helped Tirex Tyre in two areas, with the sale of the modern hall in Modletice and the tender for a developer for the new hall. We organized the tender for constructing a new hall for private ownership. Panattoni won the tender and offered the best location for the client. In light of the corresponding price and the experience that Panattoni possesses as a developer, we recommended this solution to Tirex Tyre. We are pleased with the speed of the entire tender, as it took only 12 months from the sale of the hall in Modletice to the planned handover of the new facility in Pavlov.”

Pavel Sovička, General Director of Panattoni Europe for the Czech Republic and Slovakia, noted: “Our company was the only one which has been able to offer Tirex Tyre a built-to-own solution , a segment that we have specialized in long-term. Location-wise Panattoni Park Prague Airport II offers our clients the immediate vicinity of the Prague Ring Road and the most important hubs of the Czech highway network. I am pleased to have met the requirements of our clients , but also as a developer I naturally look forward to the fact that one of our newest industrial parks is slowly starting to fill up.”

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