IVG Institutional Funds has signed an agreement with YIT Rakennus to acquire the Avia Line II office property in the Finnish city of Vantaa for about EUR 8 mln.
IVG Institutional Funds has signed an agreement with YIT Rakennus to acquire the Avia Line II office property in the Finnish city of Vantaa for about EUR 8 mln.
Construction of the property, which has a floor area of some 3,000 m2, has already started and the work will be completed in December 2010. IVG Institutional Funds also owns the first phase of the Avia Line office park.
The main tenants in the property will be the Finnish arm of electronics and well-being sector giant Philips, and Geotrim, which specialises in
surveying, construction measurements and GPS positioning.
The office properties in Avia Line make up a complex of four buildings that will have some 12, 000 m2 of office space when completed. The first phase was completed about a year ago, and tenant acquisition for the next phases will begin in spring 2010.
