Baltic Sea Properties AS will help DPD to expand further in the region based on built to suit lease transaction
Baltic Sea Properties AS (“BSP”) has signed two lease agreements with the French-owned parcel delivery group DPD (owned by Le Groupe La Poste) for the development of two new distribution centers in Siauliai and Telsiai, Lithuania.
The size of the terminals combined is approx. 4,000 m2 and will be tailored for distribution and logistics of parcel deliveries, with scheduled delivery by the second quarter of 2022.
The lease agreements are both with a 15-years unbreakable lease term on triple net terms. BSP will under the lease agreement also have the obligation to provide further expansions (minimum 1,000 m2) for both terminals within five years, subject to the tenant’s request within the period.
The client was advised by Ellex Valiunas Real estate and environment associate partner Julija Nikitaravičienė.
Baltic Sea Properties AS is a Norwegian real estate company focusing on development and property management in the Baltics.
BSP is one of the Baltics’ leading real estate investors and owns approximately 102,000 m2 of industrial, logistics & commercial projects in the Baltics with a current expansion possibility for a further 100,000 m2 primarily focused on industrial & logistics parks.