Darnu Group, the leading developer of stock offices at Vilnius Business Park, has already built nearly 29,000 m2 of these facilities. In the coming years, they intend to invest around €70 million into this real estate sector and develop an additional 34,000 m2 of premises.
Convenient consolidation of company processes
Mykolas Čiplys, Head of Sales and Leasing at Darnu Group, states that these types of premises are suited particularly for small and medium-sized businesses. They offer a practical alternative, mainly due to their lower operating costs.
„The key factor here is the option to integrate all operations in a single location. Frequently, businesses have their operations distributed across multiple departments and locations, depending on the nature of their activities. This distribution significantly affects daily expenses, leading to extra costs for equipment, transportation, renting facilities, and even staffing. Having warehouse, office, and retail space all in one location allows for greater efficiency and improved accessibility for customers and partners,“ says the Darnu Group representative.
KMOTO, an ATV dealership situated in one of the Vilnius Business Park premises developed by Darnu Group, also supports this view.
„As a business, we have consistently been drawn to commercial warehouses due to their layout and competitive pricing. It was crucial for us to conveniently integrate our spaces—having the administrative office, warehouses, and retail areas in close proximity. Relocating to a stock office has provided a comfortable and high-quality working environment,“ says Kevin Gracholski, Director of KMOTO.
Due to the high energy efficiency and individual metering system, businesses in Vilnius Business Park benefit from low maintenance costs, paying around €1 per m2 for utilities. A smart metering system that allows for the straightforward monitoring of bills further improves tenant comfort. Those seeking even more efficient and sustainable solutions have the option to produce their own energy and install solar power systems on their roofs.
„Approximately one-third of the clients in Vilnius Business Park have already installed solar power systems, with others still exploring this option. This not only allows for producing our own energy but also significantly helps reduce long-term operating costs and promotes environmental sustainability,“ says Darnu Group’s Head of Sales and Leasing.
Key advantages: location and surrounding infrastructure
M. Čiplys notes that a crucial factor for businesses considering this type of premises is the convenient location and the option to efficiently manage logistics for both local and international markets. For this reason, the company’s complexes are situated along the main arteries of the capital city.
„Our stock office complex on Ukmergės Street is situated in the rapidly growing northern part of the capital city and offers excellent access to both the city and major highways. The warehouses on Gariūnų Street also boast excellent transport connections. The main Lithuanian motorway linking Vilnius and Klaipėda is easily accessible, and the area attracts a high volume of visitors,“ he says.
Gediminas Červokas, Head of the Vilnius Department at Signeda, one of the largest retail chains for car parts, praises the infrastructure at Vilnius Business Park on Gariūnų Street. He says the business began to consider opening a branch on Gariūnų Street a year ago, and the stock office was then selected due to its strategic location, which is ideal for both the business and its clients.
„Given that a significant portion of our customer base consists of body shops situated in the suburbs or along the city’s main routes, we found the Gariūnų Street location to be strategically advantageous. Since we sell car parts, having a car market nearby is also important,“ says G. Červokas.
The representative from Signeda, which has recently been set up in Vilnius Business Park, adds that the store’s employees are also pleased with the new premises.
„Employees are particularly pleased with the spacious parking lot. Some have relocated to Gariūnų Street from the Šiaurės Miestelis office, where finding parking was quite a challenge. Of course, employees also highly value the stylish new premises with comfortable climate control systems. Especially considering we relocated from outdated premises that are probably 50 years old,“ he says.
Emerging business communities
For small and medium-sized businesses, moving to a stock office also opens up opportunities for new partnerships. Nearby businesses can support each other, share services or products, and collaborate on joint projects.
Jevgenijus Kizinas, Director of Dovanų Šalis, shares his experience with the complex on Ukmergės Street: „We connect with businesses in Vilnius Business Park, exchanging services, offering discounts, and occasionally sharing available warehouse space. I believe that over time, we’ll grow even closer and build a strong community.“
Meanwhile, Marius Bieliauskas, CEO of PandoMoto, a company that specialises in motorcycle clothing, values the opportunity to find suppliers within Vilnius Business Park. This has streamlined the company’s key processes and made it easier to manage shipments and sales.
„With so many businesses in our vicinity, it’s easy to develop relationships and partnerships. For instance, our neighbours offer packaging services, so we purchase all our cardboard from them. If we run low, we can simply walk over there to pick up some more, avoiding long trips,“ he says.
Not just for business but also for investment
M. Čiplys notes that only a small fraction of businesses leases these premises. In fact, 85% of clients have bought property in Vilnius Business Park, with many of them being investors. In the initial phase of Vilnius Business Park’s development, these clients constituted 53% of the total.
According to Čiplys, stock offices attract investors due to their low tenant turnover. Lease agreements are typically for 5–7 years and often include annual price indexation clauses. Therefore, investors can anticipate a steady income stream and consistent returns on their investments. M. Čiplys notes that, due to the favourable market conditions of recent years and rising investment asset values, some clients have realised investment returns of up to 70%.
„Investors are drawn to the option to choose and combine blocks of premises in various sizes, allowing them to invest different amounts of money based on their preferences. Our commercial warehouses are also straightforward to manage—premises are sold fully equipped and ready for use, and property owners’ associations are established right away. Owners do not need to manage the properties during the lease period. Tenants handle maintenance and related payments, and the properties generally experience less wear and tear compared to apartments. Additionally, large stock office hubs have extensive infrastructure, which boosts service volumes and customer traffic. As the appeal and visibility of these facilities grow, so does their value,“ the expert concludes.
In 2022, Darnu Group completed its first project of this type on Ukmergės Street in Vilnius, the 24,000 m2 Vilnius Business Park. Another 17,200 m2 Vilnius Business Park is currently under construction, while a third complex of 13,600 m2 is in the design phase, with plans to launch the construction at the beginning of next year.
This year, the company has also completed the first phase of construction, covering 4,700 m2, in the Gariūnai microdistrict of the capital city. An additional 8,200 m2 of stock offices with a similar design are currently under construction in the same location. They are scheduled for completion at the end of this year.
