Lemminkäinen and NCC sell office building in Espoo


A fund managed by IVG Institutional Funds GmbH has purchased the Capella office building, the second phase of Polaris Business Park, in the Leppävaara district of Espoo. The total value of the transaction is over EUR 20 million.

Polaris Business Park’s Capella office building was completed in spring 2009. Its leasable floor area is approx. 6,000 m² and the transaction also included 15 parking places, most of which are located in the business park’s multi-storey car park. About 75 per cent of building’s premises are leased.

NCC Property Development Oy and Lemminkäinen Group’s Oy Alfred A. Palmberg Ab have developed Polaris Business Park and are acting as its sellers. A consortium formed by NCC and Palmberg are responsible for the business park’s construction.

Located at the intersection of the Turunväylä motorway and Ring Road 1, Polaris Business Park has been under construction since the beginning of 2007. When completed, it will consist of five office buildings and one multi-storey car park. The park has a total floor area of 37,500 m² and about 740 parking places. The largest tenants are AGA, Fenestra and Olympus.

Pauli Mäkelä, +358 400 407 508, Lemminkäinen/Oy Alfred A. Palmberg Ab
Hannu Havanka, +358 50 375 2646, NCC Property Development Oy
Jörg Laue. +49 228 844 496, IVG

Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction, technical building services, and building products. Net sales in 2008 were approx. EUR 2.5 billion, of which international operations accounted for over a quarter. The Group employs about 9,000 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.fi.