Nordisk Renting acquires Powergate II office property Vaasa

Avance advises Nordisk Renting Oy in connection with its acquisition of the Powergate II office property in Vaasa from Oy Vaasa Parks Ab, and its related long-term lease arrangement with Wärtsilä Finland Oy.

Powergate II consists of three office buildings, A, B and C, which will host some 900 employees of Wärtsilä upon their completion. The construction work of the buildings A and B was commenced in 2017 in collaboration of Wärtsilä, the tenant, and Vaasa Parks, the developer of the property. The building A was completed in June 2018, and the buildings B and C are expected to be completed in September-October 2018 and autumn 2019, respectively.