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Technopolis buys office development in Lithuania for €32M

Technopolis Plc bought an under-construction office property in Vilnius, Lithuania, for approximately €32 million from ICOR Group.

The property spans approximately 13,800 square meters of gross leasable area and has a pre-let rate of 44%.

The company also agreed to purchase an adjacent land parcel, allowing for expansion potential of about 20,000 square meters.

Construction is expected to be completed in October. The property neighbors the Technopolis Ozas campus, according to the company release.

The acquisition of the building was closed April 6, while the plot acquisition is expected to close by 2017-end.