Commercial real estate firm Colliers International announced it has leased 25,000 m[sup]2[/sup] of warehouse premises to DHL Exel Supply Chain in the Eirkel business park in Jelgava, central Latvia. DHL Exel Supply Chain, a leading company in contract logistics, will occupy some 25,000 m[sup]2[/sup] of space.
Commercial real estate firm Colliers International announced it has leased 25,000 m2 of warehouse premises to DHL Exel Supply Chain in the Eirkel business park in Jelgava, central Latvia. DHL Exel Supply Chain, a leading company in contract logistics, will occupy some 25,000 m2 of space.
The whole Business Park is going to be commissioned by 2009, with estimated rentable area of 80,000 m2, Colliers International said in a press release issued on Wednesday. The existing park's covers 49 hectares providing scope for a potential additional development of 150,000m2.
DHL Exel Supply Chain's head in the Baltic States Romiel Kinber said: 'While Western economy is relatively stable, developing markets are seen as a source of growth and expansion. Therefore Baltic region is one of the focus areas of the group.'
Colliers International's Managing Partner in the Baltic States Mihails Morozovs stated: 'This is one of the biggest rental transactions in the Baltic States region for the last couple of years.'