SIRIN Development opens its first logistics park in Estonia and invests €120 million

SIRIN Development, the largest logistics real estate developer in the Baltics, has opened the SIRIN PARK TÄNASSILMA logistics park on the outskirts of Tallinn, marking the start of the company's €120 million investment plan in Estonia.

SIRIN PARK TÄNASSILMA, which cost €12 million and covers 14 000 square metres, is open for tenants from January. With this move, SIRIN Development has launched an ambitious investment plan in Estonia, with over €120 million to be invested in the development of modern logistics parks by 2030.

"This is our first step in the Estonian logistics real estate market, where we are following a strategy to build three logistics parks in each of the major cities in the Baltic States. Tallinn is a strategically important hub for us and we plan to significantly expand our presence in Estonia. We are convinced that the Estonian economy will soon return to a growth trajectory, which will be accompanied by an increasing demand for modern warehouse space," said Lars-Åke Tollemark, Chairman of the Board of SIRIN Development.

The logistics park, located at Lepatriinu põik 2 in Harju County, offers a strategic location on the Via Baltica (Tallinn-Pärnu-Ikla highway T4), providing good connections to both Tallinn city centre and the airport.

According to Laurynas Kuzavas, CEO of SIRIN Development, SIRIN PARK TÄNASSILMA embodies the company's vision of modern and sustainable logistics parks in prime locations. It is designed to meet the future needs of the industry, with a special focus on quality working environments and sustainable solutions.

"The aim is to design warehouses that meet the changing needs of our customers, both in the coming years and in the longer term. Our warehouses prioritise the growth and adaptability of our clients' businesses - spacious and modern logistics parks designed to accommodate the expansion needs of tenants," Kuzavas explained.

The first tenant of SIRIN PARK TÄNASSILMA is Padelsquare, which will build a 1500 square metre paddle court.

"We are currently negotiating with other clients who are interested in an exclusive location, cost-efficiency and the opportunity to be part of a sustainable logistical ecosystem. Our aim is to offer companies operating in older warehouses the opportunity to move to a modern logistics park with 30% lower operating costs, environmentally friendly solutions and better conditions for employees. We are flexible to the needs of our customers, offering both large and smaller rental spaces," said Kuzavas.

SIRIN PARK TÄNASSILMA is a sustainable logistics park with A++ energy efficiency, incorporating environmentally friendly solutions such as renewable energy sources, water-saving systems, an efficient heating system, LED lighting, BREEAM-compliant

sanitation, CO₂-monitoring and electric vehicle charging facilities. The project has been designed with cost-efficient technical systems.

SIRIN Development is the largest logistics property developer in the Baltics, having developed more than 600,000 sqm of sustainable logistics parks over more than 15 years. The company's management portfolio in the Baltic States currently comprises 470 000 sqm of rental space.