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Ellex Advised BSP on Two Lease Agreements with DPD

Ellex Advised BSP on Two Lease Agreements with DPD

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Ellex Valiunas has advised Norwegian real estate management company Baltic Sea Properties on two lease agreements with French parcel delivery group DPD in the cities of Siauliai and Telsiai.

According to the firm, the leases are intended for the development of two new parcel distribution centers in the two Lithuanian cities. The total size of the terminals will be approximately 4,000 square meters. They will be adapted for parcel delivery distribution and logistics. The buildings are planned to be built by 2022's second quarter. Both agreements are for a 15-year triple net lease. Under the lease agreements, BSP will have to expand both terminals by at least 1,000 square meters within five years.

Last year, the firm advised BSP on its sale of 13 buildings to Rivona (as reported by CEE Legal Matters on November 27, 2020).

The Ellex Valiunas team included Associate Partner Julija Nikitaraviciene.

A firm representative said they have no information as to the advisor of DPD.

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