Newsec, the full-service property solutions provider in cooperation with Spire Baltic, has launched the letting process of the M4A office building situated in the Quiet Center –prestigious embassy and business district in the heart of Riga. Newsec Latvia acts as a master agent for M4A lease process.
M4A, a modern office building with total area of 4471 square meters, located at Mednieku street 4a has been previously occupied by the ABLV bank. After 11 years of successful cooperation, ABLV bank will soon be vacating the premises, freeing up office space at M4A from 400 up to 3000 square meters spread over 7 floors. Spacious parking inside M4A and convenient access by public transport ensure additional benefits for modern office occupiers. A number of embassies – Poland, Greece, Austria, Malta, Ukraine, Belgium are situated in the neighbourhood.
The building has a regular shape with easy to plan layouts, sustainable floor plate and floor depth ensuring great insulation for healthy working environment. High speed OTIS elevators, modern telecommunication connections, ventilation and air conditioning systems as well as professional property management team is the key to potential occupiers’ satisfaction choosing the location in the central business district.
“The lack of supply and growing demand within the city centre will definitely create a deficit of offices already in a very short term period and will put a huge pressure on the asking rental rates. Therefore for tenants who plan their move it is time to actively consider the remaining opportunities in the city centre in Riga while those are available for negotiating adequate commercial terms”, says Olga Kozina, Managing Director of NEWSEC Baltics.
“Demand for centrally located business spaces remained high even throughout the years of crisis and at the moment the total stock of modern offices per capita in Riga centre is pretty limited and continue to shrink. Lack of new developments will raise rental prices at centrally located office buildings. Therefore M4A is one of the last possibilities to lease large office premises of up to 3,000 sqm in Riga centre, given the reducing area of available office space in the city centre”, says Girts Granats, Member of the Board of Spire Baltic.
Newsec –The Full Service Property House in Northern Europe – is the leading commercial property firm in Northern Europe. With over 550 professionals in 20 offices Newsec provides a comprehensive range of services to most of the leading property owners, investors and corporates in the region. In addition Newsec has an exclusive collaboration with BNP Paribas Real Estate – one of the leading advisors in Europe.
About Spire Baltic
Spire Baltic SIA was established in 1998 and is affiliated with Mid Baltic Realty Limited. Most of the company’s activities are concentrated in Riga and the surrounding areas. Spire Baltic manages office, residential, and retail properties, as well as parcels of land with total value in excess of 31 million EUR.
by Olga Kozina