YIT to sell a logistics property located in Turku to MEAG

YIT has signed a contract on the construction and sale of a logistics property in Runosmäki, Turku, to MEAG, global asset manager of insurance company Munich Re and ERGO.

The total floor area of the building will be approximately 8,800 m². In addition to logistics and storage facilities, the building will also have office facilities. Construction work started in August 2021 and the project is scheduled for completion in May 2022. The main tenant will be Tunturi Oy Ltd.

The property is located next to excellent transport connections, a short drive from the centre of Turku and close to the airport and two major ports.

“We are pleased that we could offer a suitable construction site for Tunturi and to have made rapid progress in the implementation of the project. Renting the premises to Tunturi at the beginning of the project has enabled open and solution-oriented cooperation throughout the planning phase. The jointly defined goals and solutions related, for example, to sustainable development themes are a vital part of today's project development. Together with Tunturi, we were able to build an entity that has attracted great interest from investors. MEAG, with whom we have signed the contract, succeeded best in the international investor competition,” says Jukka Lämsä, Vice President at YIT.

"As Tunturi expanded its operations to the other Nordic countries and bike sales has grown, our current premises have become too small. From our new premises, we will be able to handle the logistics of the spring season and maintain and even improve fast deliveries to our customers. YIT was chosen as our partner because of its solid experience, the site was also located close to our current premises, according to our wishes. The cooperation has been very smooth, and our needs have been well considered from the planning stage, we wanted the carbon footprint to be taken into account already from the construction stage. Tunturi will be 100 years old next year and it's great to start the company's second century in new premises," says Katja Vesa, Tunturi Nordic Finance Manager.

The international BREEAM environmental certificate with Very Good rating will be sought for the property. The majority of the heating and cooling energy used in the building is produced by the geothermal heat system, and part of the electricity is covered by the electricity produced by the solar electricity system. In addition, electric vehicle charging, which also takes into account the needs of electric bicycles, will be implemented in the parking area.

"I would like to thank YIT for the excellent cooperation on our project. We are pleased to welcome Tunturi and to support Tunturi in its expansion strategy. In addition, this property meets our sustainability requirements," says Katrin Hupfauer, Head of Real Estate Transactions at MEAG.

For further information, please contact:
Jukka Lämsä, Vice President, Building Construction Southwest Finland, YIT Finland Ltd, tel. +358 (0)45 634 4300, jukka.lamsa@yit.fi
Hedi Grass, Transaction Manager, Partnership Properties segment, YIT Finland Ltd, tel. +358 (0)40 733 8821, hedi.grass@yit.fi
Anna Leino, Communications Manager, YIT Corporation, tel. +358 (0)50 384 5797, anna.leino@yit.fi

YIT is the largest Finnish and a significant North European development and construction company. With a strong customer focus and clear mission to create better living environments. We develop and build functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 7,400 professionals in ten countries: Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2020 was EUR 3.1 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com