Properties in Laagri aquired for industrial real estate development
Kapitel, which expanded into the logistics and industrial real estate business this year, acquired four properties in the former Gate Tallinn development area in the small town of Laagri with a total area of 60,000 square meters. It is possible to develop approximately 26,000 m 2 gross area and warehouse and industrial buildings up to 18 m high for the acquired real estate.
“The logistics and industrial real estate sector is growing strongly and we see great potential to apply our long-term experience in commercial real estate development and management in this sector as well. The basis of the successful development project is a good location, as a result of which we acquired four properties in the former Gate Tallinn development area in Laagri, where we are ready to develop logistics centers or industrial buildings suitable for customers,” said Rait Pallo, Member of the Kapitel Management Board.
The capital’s portfolio includes logistics centers in Rae municipality at Rukki tee 1 and Rukki tee 5. Smarten Logistics is the anchor tenant of the centers with approximately 59,000 m2 of leased space. The company’s real estate portfolio now includes five real estate with a detailed plan suitable for the development of logistics and industrial real estate: in Rae municipality, Tallinn ring road at Pähklimäe tee 13 and in Laagri small town at Saue tee 15, Saue tee 17, Saue tee 19 and Kaupmehe tn 10.
Kapitel is one of the largest real estate companies in the Baltics, which develops and manages shopping centers, hotels and office buildings. The Group’s real estate portfolio has more than 244,000 m2 of leasable space. The company owns four office buildings (Delta Plaza and Sõpruse Ärimaja in Tallinn, Narbuto 5 in Vilnius and IP Pavlova 5 in Prague) and a stake in four shopping centers (Spice and Spice Home in Riga, Panorama in Vilnius, Viru Keskus in Tallinn). The company owns the Nordic Hotel Forum (operated by OÜ Nordic Hotels) and together with AS Infortar Tallink City Hotel, operated by Tallink Hotels. In addition, the company has a stake in Nordassets OÜ, which owns two logistics centers on the Tallinn Ring Road.
