Real estate developer Technopolis PLC is spending €25 million to extend its central business district campus in Oulu, Finland, subject to construction approval.
The second phase of expansion will add 8,400 square meters of space and an additional parking garage to the campus, taking the asset's total rentable area to over 19,000 square meters and total parking places to over 400.
The project's initial yield and stabilized yield is estimated to be 7.2% and 8.4%, respectively.
Work on the extension is slated to commence in July, with completion scheduled for March 2020, according to a release.
