Mitsui-Soko has prolonged its lease in a logistic park in Plzen
Japanese logistics company Mitsui-Soko has prolonged its lease in a logistic park in Plzen. The company has leased almost 6,400 sq m of warehouse space and more than 400 sq m of offices in the Plzen West Business Center. Mitsui-Soko provides logistic services primarily to Japanese companies in the automotive and electronics industries.
Cushman & Wakefield facilitated the transaction.
The company has been operating in Plzen since 2006. It has newly secured the lease of the space until 2014. “The Plzen location has turned out well for Mitsui-Soko. And since the company has long-term plans in the Czech Republic, it wanted to secure the lease for the upcoming years. It also wanted to take advantage of the current situation on the industrial market and negotiate the best possible terms for the next period. Cushman & Wakefield represented Mitsui-Soko in a similar transaction in a different location several months ago,” says Ms. Mayumi Yokozeki of Cushman & Wakefield’s industrial team, who was directly involved in the transaction.
The developer of the park is Amesbury. The total area exceeds 22,000 sq m and the park is fully occupied.
“The Plzen Region was one of the most attractive ones in terms of take-up last year. The vacancy rate decreased from almost 25 percent to 11.2 percent over the course of 2010. This vacancy rate indicates a sound market. Should the vacancy rate decrease below ten percent, it would indicate insufficient supply and limited possibilities
for occupiers to choose their premises,” says Mayumi Yokozeki.