Investment group Accolade is expanding into South Bohemia with its acquisition of GARBE Park Ceske Budejovice from GARBE Industrial Real Estate.
The acquisition includes the completed and fully leased Hall 4, the newly built and recently handed-over Hall 5, and development-ready land plots for future construction, which will be carried out by a joint venture between Accolade and GARBE. The total transaction value exceeds EUR 100 million, making it one of the largest commercial-real-estate deals in the Czech Republic this year and the second-largest in the industrial-real-estate segment.
Development on GARBE Park Ceske Budejovice, which is located in Borsov nad Vltavou, began in 2023. Once complete, the park will cover approximately 490,000 square meters, offering over 230,000 square meters of rentable space, and will include a mix of logistics, manufacturing, office, and retail spaces. Construction is split into two phases, with the first already in process, and the second scheduled to begin depending on market demand.
“Thanks to our partnership with GARBE, we have reached another key milestone in our efforts to enhance regional diversification,” said Accolade CEO Milan Kratina. “This is our first expansion into the South Bohemian Region, and we are making a big entry – the park in Ceske Budejovice will become one of the largest in our portfolio once completed. We strongly believe in investing in regional hubs like regional capitals, where we can foster new opportunities and support people in building strong foundations for work and life. This is essential for the balanced development and prosperity of both the country and the broader European economy.”
Hall 4 covers nearly 20,000 square meters and is leased to the Taconova and HAUSER manufacturing companies. Switzerland-based Taconova, which also operates in nearby Velesin, has placed its production and logistics facility for heating, sanitary, and solar systems in the new facility. HAUSER, whose main plant is located in Kaplice, uses the Borsov facility as supplementary storage for refrigeration units such as freezers for the LIDL supermarket chain.
Hall 5 covers almost 30,000 square meters and was handed over this spring to tenant NOBO Automotuve, a supplier of automotive interiors, exteriors, and electronics. The plant in Ceske Budejovice manufactures seat sets for premium BMW vehicles.
Both completed buildings have achieved a high-level BREEAM Excellent certification.
“Our long-term vision at GARBE is to create modern and attractive industrial parks that appeal to both investors and tenants,” said Martin Polak, Managing Director of GARBE for Central and Eastern Europe. “GARBE Park Ceske Budejovice proves that we are successfully delivering on that strategy. I am particularly pleased that we have secured a strong and reliable partner for further development. This park offers excellent parameters – outstanding transport accessibility, cutting-edge technologies, and a strong focus on sustainability – and will surely become a sought-after address for companies.”
The first phase of the park will soon see the completion of two additional buildings. One will be leased by BILLA, which will open a supermarket directly in the park to serve both employees and the public. The second building will be leased to TERA Systems and Gebruder Weiss. Construction of two more buildings is planned for later this year. In total, around 160,000 square meters of land is currently ready for future development.
With the acquisition, Accolade will also take over asset management of the entire park, with GARBE continuing to provide property management. “We are taking over a top-quality project from GARBE that fits seamlessly into our existing portfolio,” added Accolate COO Lukas Repal. “Thanks to the diverse mix of current and future tenants, we can fully apply our extensive asset management expertise and provide top-tier service and satisfaction to our clients. We are excited about all the new partnerships this regional expansion will bring.”
Legal advisory for Accolade was provided by the Kinstellar law firm, with TPA handling tax and financial due diligence, and Savills responsible for technical due diligence. The seller was advised by the CMS law firm on legal matters, with ASB covering tax and financial advisory, and technical due diligence provided by RotaGroup.
