Everaus Real Estate Lennuraadar Warehouse Complex Expansion Topped Out
Everaus Kinnisvara celebrated on October 2 the topping-out ceremony of the business park expansion being built on Lennuraadar Road in Rae Parish. The new development phase consists of four modern commercial buildings that bring 64 new storage units and stock-office spaces to the market with a total area of 4,000 square meters. Two of the four buildings will be completed by the end of 2025 and the next two in early 2026.
The Lennuraadar storage complex includes storage units and stock-office spaces ranging from 35 to 85 square meters. Upon acquisition of the storage complex at the end of 2024, three commercial buildings with a total of 42 business spaces (total area of 2,500 square meters) were already completed and covered by lease agreements. Upon completion of the business park expansion, the total complex will consist of 106 business spaces, significantly growing Everaus Kinnisvara's rental portfolio.
„Everaus Kinnisvara's long-term strategic goal is to strengthen its position in the commercial real estate sector, including the stock-office spaces and storage segment," comments Janar Muttik, founder and CEO of Everaus Kinnisvara. „The Lennuraadar storage complex has proven its attractiveness both in terms of location and concept. Demand for stock-office spaces and storage units aimed at small and medium-sized companies in Rae Parish is high."
The Lennuraadar business park is located in a strategically important logistics position, in close proximity to Tallinn's ring road and Suur-Sõjamäe Road, offering companies convenient and fast connections to Tallinn city center and surrounding areas. The complex's proximity to the airport and ports is a major advantage for companies whose operations require good connections to these logistics hubs.
The Lennuraadar storage complex expansion will be built by Maru Ehitus AS. "Having focused on commercial real estate design and construction services in Estonia, we are pleased to be a partner to Everaus on a second consecutive project. Generally, each commercial building is unique and requires separate planning and consideration. With the Lennuraadar storage buildings, there is a unique opportunity to plan operations using the flow method, as these are four similar buildings," said Margo Dengo, CEO of Maru Ehitus AS.
Everaus Kinnisvara is an ambitious residential and commercial real estate developer. Starting as a private house developer in 2015, the company has grown to become a developer with the most diverse portfolio, with development projects including apartment buildings, terraced houses, semi-detached houses and private houses as well as office buildings and stock-office spaces, storage units and mini-storages, in addition to residential plots and guest apartments. While residential real estate projects are intended for sale, commercial real estate is developed as cash flow projects for rental purposes with a focus on risk diversification, and the built commercial buildings are retained in ownership. Everaus Kinnisvara is the only real estate developer in Estonia where almost all completed residential developments have received high recognition in home competitions. Due to pioneering choices, the developer's projects have been awarded the title "first of its kind" more than once. Everaus Kinnisvara AS bonds have been listed on the Nasdaq Tallinn Stock Exchange's alternative market First North since 05.06.2025.
