HB Reavis has sold its Prague office project Metronom Business Center to REICO for CZK 2.3bn.
The developer completed the 34,000 sqm project in 2015 and convinced the software giant SAP to become its anchor tenant. Located next to the Nové Butovice metro stop, the scheme is made up of three interconnected buildings that are also leased by BMW and AbbVie.
“The commercial success of Metronom shows beyond all doubt that our office spaces, designed and built with people in mind, focus mainly on the needs of prospective users and provide what both clients and investors seek,” says Petr Herman, CEO of HB Reavis in the Czech Republic.
This most recent transaction provides yet more proof that regardless of the complaints of investors that Prague’s office market has gotten too hot