A MULTIFUNCTIONAL BUILDING COMPLEX IS BEING CONSTRUCTED IN KAUNAS FEZ

New buildings for sale and rent will soon be constructed on Ryternos Street in Kaunas Free Economic Zone (FEZ). A complex of five buildings is being started on a plot of 0.62 ha. Each of them will house one to two companies that require small storage or production facilities, an exhibition hall and an office.

According to the real estate development company REES, which is implementing the project, the idea to build such business objects was born taking into account today’s market situation and need.

“We have been working in real estate for more than fifteen years, and recently we have noticed more and more companies looking for several hundred square meters of higher-level premises that could have both an office and trade and warehousing or production facilities. If the company needs to rent or buy ~ 200-600 sq. m area of representative, modernly equipped premises, such proposals are practically non-existent. Almost all developers focus on larger companies and larger areas. Finally, when a business decides to build the necessary building, the challenge is to find a small, conveniently located plot of land with infrastructure for construction. Thus, a whole chain of issues arises, which cost not only a lot of time, but also money to solve and discover the best options, – says Martynas Židonis, the head of REES. – Therefore, we have decided to offer a rational solution to the market – high-quality representative buildings in a strategically convenient location, with convenient transportation and developed and reliably maintained infrastructure. In this respect, Kaunas FEZ suited us perfectly. In addition, tax benefits are valid here, as well as famous Lithuanian and foreign companies operating nearby. ”

The company plans to invest 2.5 million EUR in the FEZ Business Park project. Once construction begins, conversations with customers – tenants or buyers of new premises – will begin.

“Although we have not yet disseminated about the project, we have already received inquiries from interested businesses,” notes M. Židonis.

Currently, earthworks have started in the territory of the FEZ Business Park, and construction is just about to start: a total of five buildings will be built, where one or two companies can be located. It is planned that 5 to 9 companies will operate in the park. They will be offered 300 or 600 sq. m area of premises. The first settlements will take place this autumn.

When designing the buildings, AG studija paid special attention to the layout of the premises, the integration of the buildings into the already formed environment and their exterior. One of the important advantages of these buildings is their multifunctionality. The total area of ​​one building is ~ 600 sq. m, but the building is planned to be divided into two blocks – one block area of ~ 300 sq. m. 170-230 sq. m goes For storage and production. Office, trade and exhibition hall will take 60-105 sq. m.. There are also planned auxiliary premises for dining, changing of staff, sanitary and so on.

Taking into account the experience of this project and general market trends, REES plans further stages of development of business real estate in the territory of Kaunas FEZ in the future.

According to Kaunas FEZ General Director Vytautas Petružis, currently various settlement models are available in Kaunas FEZ: some clients independently build the necessary premises, others cooperate with real estate developers – recently this model has become more and more in demand in the FEZ territory.

“There is also a rental market: currently about 30 companies rent one or another premises in the territory of Kaunas FEZ. For example, Eften Capital alone offers almost 30 thousand sq. M. m of office and storage space where companies such as Itella, Colicare or ALG Logistics are located. The lease option also attracts small and medium-sized service or component supply companies, such as Voltas IT and Mobile Center based in Kaunas FEZ, – notes Vytautas Petružis. However, until now, most rental investors have mostly offered large-scale premises focused on logistics companies, so the new FEZ Business Park will create a new supply niche, flexibly meeting the needs of businesses looking for smaller areas.