Expansion project with Rhenus Logistics – Baltic Sea Properties AS

Baltic Sea Properties AS (Merkur Markets, BALT-ME) has agreed terms with the international logistics company Rhenus Logistics about an 4 800 sqm expansion of their logistics terminal in Vilnius.

“Rhenus Logistics experiences strong growth in the region, and we highly appreciate the confidence they show in us by committing to this expansion and further deepen the great working relationship we have built over the last few years”, says CEO in Baltic Sea Properties AS, Lars Christian Berger.

The agreed terms also include extension of the current lease agreement with a new 15-year period running from the handover date for the extended area. The agreement is a «bare-house» contract guaranteed by the mother company of the Rhenus group for the whole period. The size of the terminal is today apx. 13 500 sqm and will be apx. 18 250 sqm after the extension. Expected handover for the new project is early 2020.

For more information please contact:
CEO Lars Christian Berger
tel. 930 94 319
Lcb@Balticsea.no

Baltic Sea Properties AS is a Norwegian real estate company focused on developing and managing real estate in the Baltics. The company is one of Lithuania’s leading real estate developers, and owns, develops and manages real estate within retail, logistics and industrial sectors. The portfolio currently consists of apx. 100 000 square meters of commercial property.

Representatives from Rhenus Logistics, Sigitas Jautakis (MD, BSP Lithuania) and Lars Christian Berger (CEO, BSP).