Lubana Park 13,350 m2 retail stock-office park will be located on a 34,302 m2 land plot at Lubanas street 155. Stock offices are popular in Europe, however, Lubana Park will be the one of the first in Latvia.
Potential tenants of such premises are typical warehouse retailers, including leisure goods suppliers, interior goods suppliers as well as other goods stores with specialized production in need of display and warehouse.
Lubana Park is located on one of the busiest streets of the right bank of Daugava, having the highest traffic intensity of the neighborhood. There are several other retail-industrial developments in this area - IKEA (>50 M euro investment), SĀGA (68 M euro investment), DEPO DIY, which attract customers to visit this area. As well as several warehouse premises. Having already more than 200 M euros invested in this area into commercial real estate will make a good argument for the institutional investors to acquire the development project and achieve low yields. Average yield in Latvia is 7% both in the industrial market and in the office secondary market (CBRE, 2021).
Lubana Park will be constructed and available for tenants at the beginning of 2023.