Our team advised Eveko Investicija on signing a built-to-suit lease agreement with the international logistics company Itella Logistics. Eveko Investicija develops a logistics terminal in Kaunas which was leased by Itella Logistics.
Conversion and development of the building on a 2.7 ha site
Eveko Investicija is currently converting and developing a 3,100 m2 building on a 2.7-hectare site in Kaunas. A modern logistics terminal with administrative premises of more than 7,000 m2 is planned there. Itella’s new industrial premises will consist of 3 zones: administrative, distribution and warehousing.
“We have owned this land plot in Kaunas since 2005, and now we see excellent opportunities to use it by developing a new express parcel terminal in a very attractive location. This is a conversion project – a new logistics centre will be built by reconstructing and expanding the former old garage. We plan to complete the facility in the third quarter of 2022 and lease it on the basis of a long-term lease agreement,” says Edmundas Padvaiskas, CEO of Eveko Investicija.
New premises adapted to the needs of the growing logistics company
Itella Logistics is part of the Finnish Posti group. The company provides logistics and parcel delivery services. It also operates the Smartpost parcel terminal network. The fast-growing logistics company plans further expansion, so it has begun to look for new and more spacious premises suitable for its operations.
Our services and team
In the times when the real estate sector is facing challenges related to material supply and construction prices, entering into such an agreement and executing it requires careful consideration of every detail. It is also necessary to ensure close collaboration of both parties when solving issues which appear along the way quickly and effectively.
We advised the client on all issues related to the transaction, including the structuring of the transaction and the execution of the contract. The team, led by partner Simonas Skukauskas, consisted of associates Sandra Aleksandravičienė and Jurgita Mikučionienė.
