Bird & Bird advised Logicenters on transaction regarding the purchase of a logistics center

In 2021, the logistics real estate operator Logicenters and retail company Tokmanni signed a project agreement for Logicenters to develop a new logistics property of 55,000 m2 in Mäntsälä, Finland. Tokmanni already has a main warehouse and a head office in the area. The project agreement in 2021 stipulated that Tokmanni would sell the property to Logicenters upon completion and lease back the premises in a 20-year rental agreement.

The building is certified according to BREEAM Very Good and has Finland's largest roof-mounted solar power plant installation, with 1,4 GWh annual electricity production capacity.

Our assignment included all legal advice and support for Logicenters during the entire arrangement and transaction. In the core of the arrangement was the agreement package consisting of the project agreement, the lease agreement and the share sale and purchase agreement. 

From the Bird & Bird team the project was led by Counsel Tuukka Korhonen. Other experts of our team were Associate Noora Kähkönen and Senior Associate Jenny Rontu. Partner Jaakko Hietala acted as a responsible partner.

Jarkko Äikää, Commercial Director at Logicenters Finland comments: “It was once again very easy and straightforward to collaborate with Bird & Bird’s experts. Their strong and extensive knowledges of both real estate transactions and real estate development projects as well as their great ability to understand the goals and objectives of both parties were in a considerable role in various phases of the project and in the execution of this arrangement. It was a pleasure to work closely with the Bird & Bird team in this project.”

Please find Logicenter’s announcement here: Logicenters acquires and leases to Tokmanni in Finland – Logicenters