Catena signs 15-year lease in Södertälje
Catena is investing about SEK 8.5 million to upgrade a property in Södertälje to a modern automotive facility. In conjunction with the modernization, a 15-year lease is being signed with Bilia, currently the predominant tenant of the property.
The annual rent for the new lease is about SEK 5.0 million and will become effective after the renovation is completed on August 1, 2007.
”Through upgrading the property, which was built in the 1970s, an automotive facility is created that better complies with today’s requirements and, consequently, contributes to creating business for Bilia,” says Peter Hallgren, President of Catena.
The investment is in line with Catena’s ambitions to streamline and develop the property portfolio, with a focus on the metropolitan areas in the Nordic region.
”This is another indication that our strategy is working well – that our customers appreciate our approach to actively improving and developing the property holdings in a manner that creates value for both parties,” states Peter Hallgren.