Q1 2021 Project in spotlight
Despite last year being a record year in the past decade in terms of new construction, Green Park was the only large-scale speculative development project to be partially delivered to the market in 2020.
Green Park consists of energy-efficient premises located at the border of Riga city next to Riga International Airport. All premises are adaptable to customer’s needs - planning, number of docks, ramps, number of lateral nodes, as well as equipped with smart led sensor lights, access and time control, enabling the management of the company to receive detailed reports. To sum up, the space is speculative, but it is as close to built-to-suit as it can get.
Seamless floors, dimmable lights, 7 t/sqm floor load, offices cooled and heated by means of warm walls - these are some of the characteristics that describes Green Park. As the developer Piche claims, Green Park is about an improved and organized work environment, so you can focus on what matters most at work.
What makes Green Park attractive to the tenant? Is it the location, rent rate, building solutions, workforce availability or lack of alternatives?
“We chose Green Park because Marupe is a business-friendly municipality, and the airport is nearby, which opens up more business opportunities. It was also important that Green Park is an energy-efficient building that is in line with Omniva's sustainability strategy. This is an opportunity to work in modern and business-friendly premises located in a strategically advantageous location”, comments one of Green Park tenants Omniva.
Of course, location is one of the most important factors when making the decision on relocation – to be closer to your clients, to reduce transport costs, to have access to the workforce. Nevertheless, more and more tenants are turning their focus on building energy efficiency. “In daily communication with our clients, especially the tenants, when we compare different warehouse options, besides standard rent and maintenance comparison, we perform in-depth audits of tenant’s running costs and in many cases higher rent does not certainly mean higher total cost because the savings in energy efficient buildings are significant compared to older projects,”- tells Kaspars Gražulis, I&L Agency representative at Colliers.
Looking at future development pipeline we see that energy efficient and sustainable buildings will be in focus of developers and green trend will continue to grow in the market.
Asked about the future plans, Green Park developer Piche CEO Peteris Senkans replied: “Apart from a few early setbacks with Covid, Green Park development successfully continued as strategically planned. Over the times of pandemic, we are happy that companies from the logistics sector and online retail have found their way to Green Park making Marupe a perfect location for placing their e-commerce business. In our next projects we’ll continue delivering more business advantages for companies including latest energy efficiency solutions and attract new businesses to Marupe. It’s something that every business should pay attention to.”
Following the tenants’ sustainability strategies and targets for ‘0 carbon emissions in logistics’, more green projects with latest energy efficiency solutions, and green certificates are expected to be delivered to the market. Actually it is already known which logistics building will be the first BREEM certified in Latvia, more info about it to be disclosed in the next Project in Spotlight edition.