Abava Warehouse Complex

Country
Latvia

Description
Large warehouse complex in Riga’s industrial zone.

Founded in 1993 as a wholesaler, Abava is a complex of warehouse and office space located 8 km from Riga’s city center.

NCH acquired an 88% interest in the business and proceeded to shut down Abava’s wholesale operations, reorganize the business as a real estate holding company, strengthen the management and market warehouse and office premises for lease.

NCH reinvested all of Abava’s net operating cash flow into the renovation of unleased facilities on the property, upgrading the space to modern Western standards to suit tenant requirements. Through its relationships with tenants in other properties owned, NCH identified many prospective tenants for Abava seeking to improve and expand their existing storage arrangements. Abava is fully leased and has established itself as the highest quality, most conveniently located warehouse complex in Riga.

Property
Abava contains over 50,000 m2 of leaseable space (68,000 m2 gross). Property size is 18-hectares (44.5 acres). It is easily accessible by car from downtown Riga, Riga International Airport, the central railway station, and the port. A planned river tunnel connecting the two sections of Riga located on either side of the Daugava River will have its western entrance in the immediate vicinity, giving the site even better accessibility. The complex is also serviced by a cargo railroad stop.

Abava offers various types of storage including: dry heated warehouses for commodities, cold chambers for chilled foods, freezer chambers for frozen food products, and traditional industrial space for general storage. The facility offers open-floor customs-bonded warehouses with an adjoining Latvian Customs Authority office, allowing tenants to process all necessary documents on site. Modern surveillance systems and professional guards ensure full security. Abava provides its tenants, including the US Embassy and firms such as Saint Gobain, Chesterton and Caparol with a full range of services 24 hours a day, seven days a week.

Abava has office premises for lease in 7-story and 2-story buildings adjacent to the warehouse, both of which feature modern telecommunications and information technology systems.

Secured parking for tenants and visitors is provided on premises, and the property has additional capacity for future expansion of warehouse, office, and parking areas.

Status
Realized – Sold to a group of local investors, including one of the largest tenants- SIA Tapeks, Ltd.


 






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