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Ceturtdiena 24.05.2018 | Name days: Marlēna, Ilvija, Ziedone
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Nordic Partners Properties: industrial space rent surges 40%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

In the first quarter of 2011, the largest industrial park developer in Latvia Nordic Partners Properties rented out or renewed production, storage and office space of 13 368 square meters, which is by 3 785 square meters or 40% more than in the exact period last year, the company’s spokeswoman Lauma Ozoliņa informs the business news portal BNN.

The successful lease results suggest the increasing activity in the industrial park area and favourable prospects for this segment development in Latvia. This year, the growth depends not only on the industrial park developers’ possibilities to invest in the construction of adequate space, but to a greater extent on the number of conditions supporting manufacturing and export in Latvia.

Nordic Partners Properties’ observations indicate the activity in the industrial space segment is prompted by businesses and manufacturers representing the largest and most export-efficient sectors, and the metalworking, machine building, timber and food sector have recovered the fastest from the economic recession. In 2011, it is expected the interest from companies producing innovative products will increase.

The company’s board chairwoman Elita Moiseja says the business demand for premises clearly points to the industrial park development prospects in Latvia. Given the invested work in space creation and the industry’s criteria formulation, this year we are looking forward to larger business recovery and the state support. In 2010, Nordic Partners Properties managed to maintain the number of tenants at the previous year’s level, but in 2011 we expect a growth.

From the total leased spaces of 13 368 square meters in the first quarter, spaces of 11 423 square meters were newly leased. This year the telemarketing company Studio Moderna, the computers and peripheral equipment manufacturer Eurolcds have become Nordic Partners Properties industrial park tenants, while the existing tenants – the furniture manufacturer Accenta and an the IT company CT & CO – have expanded their premises.

Overall in 2010, spaces were most leased to various domestic and international manufacturers – 65% of the total leased space. Last year, the largest share was formed by the demand for production and storage space with the average floor space of 500 – 1 000 square meters. This is a good indicator compared to 2009, when the mostly leased premises’ floor space was 150 – 500 square meters.


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  1. Ren says:

    Production space segment seems profitable.

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