Balticsea Properties AS signed a binding agreement with its tenant Rhenus Logistics regarding expansion of the existing logistic terminal. The expansion project consists of a new 17,255 sqm logistic terminal including cross docking area of approximately 4, 800 sqm. The property will be certified in accordance with the sustainability rating scheme BREEAM and a photovoltaic cell facility will be installed on the roof of the expanded area.

Total project cost is estimated to be around EUR 15.0 million (approximately NOK 170 million). Estimated handover of the expansion is in the second or third quarter of 2025. The terms of the agreement include a 15-year lease for both the existing and new area starting from expected handover in 2025.

Upon completion, the over 35, 600-square-meter facility will become one of the Baltic region's leading logistics centers.