Two Favorte Stock commercial buildings have reached their maximum height at Väo Äripark

Real estate developer Favorte and Eventus Ehitus held the first rafter party at Väo Äripark yesterday to celebrate the commercial buildings at Plaasi 2 and 4 properties reaching their maximum height. Favorte is investing 20 million euros in the business park, which is being built right next to the Väo traffic junction.

A total of six buildings with a gross area of 21 300 m2 will be constructed in the coming years on the 5.5-hectare development area of the business park.  “Favorte's next landmark project is in an active stage of realisation. As part of the first phase of the Väo Äripark, we will simultaneously erect two stock-office buildings which, when completed, will add 5,720 square metres of modern and energy-efficient space to the area,” said Rainer Hinno, Member of the Management Board of Favorte.

At the time of the rafter party, almost 60% of the spaces in the first two buildings had been leased. According to Liina Tettermann, Favorte's Sales Manager, by the time the building is taken over from the constructor, all the space has usually been leased out and there is often no ready-made commercial space to offer clients.

"We can see that business managers are becoming more aware and are preparing well in advance for the move.  In this way, it is possible to cost-effectively introduce specific solutions to meet the needs of the business into the future leasable space," added Tettermann. Favorte's Sales Manager therefore recommends that companies for whom standard solutions are not enough, who want to plan their move-in time precisely or who value a specific location, should contact the developer early and with a view to growth plans for the coming years.

The area around the Väo traffic junction has been developing rapidly in recent years. The Väo Keskus, owned by Estonia's largest fuel distributor Olerex, offers a wide variety of services: in addition to a gas station and truck wash, you will also find unique hotel-level guest apartments for companies, a gym and sauna there. Väo Keskus also has a modern restaurant and conference facilities. 

“We are delighted to contribute to the development of this important area for Tallinn and are confident that through synergy with our neighbours, success will follow all parties. In cooperation with Favorte, we thanked the conscientious builders of Väo Äripark, who were treated to delicacies cooked over a live fire as part of the rafter festivities,’ said Elis Kaurson, Manager of Väo Keskus.

Kaurson added that the symbiosis between the possibilities of Väo Keskus and the needs of businesses setting up in the Väo Äripark will create a fully functional business environment. “The Väo Keskus is primarily intended for business clients, which is supported by the whole concept of the centre: a conference room with modern technology for up to 200 people, hotel-level guest apartments for businesses, a large free parking area and much more,” said the Väo Keskus manager. 

The Plaasi 4 commercial building will be completed this autumn and the Plaasi 2 commercial building will be completed in the first quarter of 2025. The architect of the buildings is Jüri Pilliroog from the architectural firm LOOB Projekt. The project is financed by LHV Bank. Väo Äripark will be integrated into the Favorte solar park network. More information about the project can be found at: vaoaripark.ee. 

Watch a video about the construction of the Plaasi 4 building - https://www.youtube.com/watch?v=aRfNRnBy_ps