Riga’s Verde office complex has announced that both its first and second-phase buildings, A and B, are now fully leased.
According to a press release distributed by Verde, “this achievement in Latvia’s real estate market has been made possible by the signing of six new lease agreements in the past four months. At the same time, Verde’s developer, Capitalica Asset Management, is actively working on architectural and construction plans for the next phase of expansion, preparing to launch the leasing process for two new buildings, C and D, this spring.”
“I am truly delighted to reach this milestone – 100% occupancy of both buildings,” said Iveta Lace, Commercial Director of Verde. “I want to thank all the companies that placed their trust in Verde’s green concept and chose our project for their new office. Special appreciation goes to our exclusive leasing partner, Colliers Baltics, for securing tenants at the highest level, and to the legal firm Ellex Klavins for their professional support in transaction processes. The successful leasing of Buildings A and B confirms that there is still demand in Riga’s central business district for modern and energy-efficient A-class offices that meet the needs of progressive companies, including attracting top talent. Considering both market demand and the development plans of new office projects in Riga, Capitalica Asset Management sees potential for new contributions to the A-class office market. Our team has already started the development of the third and fourth phases of Verde, which, together with the existing buildings, will create a 50,000-square-meter office quarter – the closest to Riga’s historic center. Over the next few years, new, sustainable workspaces will become available for ambitious and innovation-driven companies.”
The Verde office complex, which contains 30,000 square meters of total leasable area, is now home to 27 companies across various industries, including companies operating in the IT, financial services, pharmaceuticals, energy, and legal-services areas. New tenants include two law firms (RockBridge Legal and Jaunzars un Partneri), two financial companies (AMPR Services and B2 Impact), and interior-design studio Katz, as well as existing tenants such as Tietoevry Latvia, Swisscom, Roche Services & Solutions, Merito Group, Indexo, Decta, KPMG Latvia, Swetch, Workland, Enefit, VIA SMS Group, IGK AG, Also Cloud, Marsh, Worldline, and service providers like the SilverCut hair salon, the Vividerm dermatology clinic, the Moltto Coffee café, and the Dia 36. Line restaurant.
“Verde is a unique project where thorough preparation, market knowledge, experience, courage to start despite the obstacles and strong partnership really paid off-reaching the status of one of the most successful projects with a perfect tenant mix,” commented Eriks Bergmans, Partner and Agency Director at Colliers Baltics. “We were honored to have been chosen as a partner for the first Capitalica Asset Management project in Latvia and are glad that the plans for the next Verde stages are already in development.”
Verde, which describes itself as “Riga’s greenest office complex,” is the only A-class office complex in Latvia. Its first phase opened in the summer of 2022, and the second phase in the spring of 2024. It now consists of two office buildings with a total leasable area of 30,000 square meters. The complex is designed to meet BREEAM “Excellent” standards and satisfy almost all Zero Energy Building (nZEB) criteria. According to the Verde press release, its “signature feature is unparalleled greenery, including 600 square meters of tree-lined terraces in each building and a lush courtyard filled with plants.”
