Favorte expands the €55-million Tähetorni Tehnopark

According to Rainer Hinno, a member of Favorte’s management board, there is always interest in stock-office spaces. “When the economy is thriving, companies need more space. In tougher times, the focus shifts to streamlining processes, which can include relocating to smaller premises,” said Hinno. Each year, around ten stock-office buildings enter the market, with Favorte typically developing three to four of them.

The next building in Tallinn’s largest modern business park prioritizes low operational costs and flexible space solutions. “We can offer spaces ranging from 200 to 3,000 square meters, with tenants' operating costs historically averaging €1.8 per m² per month. This can save up to 65% compared to older premises,” explained the head of Favorte.

The Härgmäe 20 business building is being constructed by Mitt&Perlebach. According to Kristjan Mitt, the company's founder and co-owner, preparations for the construction are in full swing. “This marks our tenth joint project with Favorte, a milestone that reflects the trust and success of our collaboration, ensuring client satisfaction with the final results,” said Mitt.

Tõnis Soots, a representative of the architectural firm Novarc Group AS, noted that flexibility was a key requirement in addition to functionality and aesthetics when designing the building. “The building’s exterior can be compared to a suit—simple in form, yet timeless in style,” added Soots.

All the business development buildings in Tähetorni Tehnopark feature a three-in-one space concept, integrating a warehouse, office, and showroom under one roof. Tenants also have the option to relocate within the park to suit changing needs. “Our portfolio allows tenants to move to new premises under excellent conditions, eliminating concerns about changing space requirements, relocation timelines, or juggling multiple locations,” Hinno noted.

Tähetorni Tehnopark has a total development capacity of 60,000 m², with half already completed. In addition to the Härgmäe 20 building, building permits have been issued for three other warehouse facilities. The park currently has lease agreements with 32 businesses, and Favorte’s total investment in the project amounts to €55 million.

A 600 kW solar park on the roofs of the buildings meets approximately half of the tenants' annual electricity needs. Modern building automation and remote management systems help keep operational costs under control. Additional information about the development can be found at https://tahetornitehnopark.ee/.