We value the trust of our partners. As the office market remains tight, the culture of communication, flexibility and the ability to meet business needs and add value are becoming increasingly important. These are the aspects that Baltic Horizon Fund will give priority to in its interaction with its partners. We are proud of the results: the cooperation agreement with NARBUTAS for 3,200 square metres of space is, to our knowledge, the largest in the Lithuanian office leasing sector so far this year, says Edvinas Karbauskas, co-fund manager of Baltic Horizon Fund.

Launching in 2022, Meraki, a business home of over 8,000 square metres, offers customisable spaces, cutting-edge technological and engineering building management solutions and a 2,000 square metre entertainment space with a courtyard.

‘We are an international company that designs office furniture, reflects office trends, and dictates them, therefore we aim to create the best possible work and leisure environment for our employees. We are delighted to have found a Meraki space that meets our needs, as we are very demanding when it comes to our office and working environment. The Baltic Horizon Fund team listened to our needs and offered flexible terms, and we are very pleased with our collaboration. We are looking forward to settling into our new home’, says Kęstutis Motiejūnas, Director of the People and Culture Department of NARBUTAS.

Sustainability is one of NARBUTAS’ strategic objectives and it is important to the company that the building is BREEAM-certified, which shows that the building has been designed and built to the highest international standards of sustainability and energy efficiency. The majority of the company’s fleet consists of electric vehicles, thus the presence of 27 charging points within the building and the utilization of renewable energy further solidified the decision to opt for Meraki.

Other well-known companies in Lithuania and on the global market have also contributed to Meraki’s breakthrough this year, with contracts signed with Vlantana, Hertz and HSC Baltic for a total of 1,341 square metres.

According to Indrė Juščė, Head of Office Solutions at Newsec, which brokered the deal, the large-scale contracts indicate a change in the market – a trend for employees to return to the office.

We have witnessed a significant decrease in large-scale contracts during the last few years. In 2023, for example, only a few contracts exceeded 2,000 sqm. Currently, we are witnessing the increase of car traffic and office parking occupancy, indicating that more and more employees are returning to the offices. So, the demand for quality, sustainable and easily accessible offices may grow again. Our task is to understand and respond to the needs of both the tenant and the landlord, finding the best solution for both parties. This partnership between NARBUTAS and Meraki is a perfect example of this, and our team is delighted to have been part of it, she says.

Baltic Horizon Fund manages 12 commercial properties across the three Baltic capitals. They include the North Star business centre in Vilnius, Vainodes 1, S27 and the Upmalas Biroji offices in Riga, and the Lincona office in Tallinn.