The telecommunications equipment company Peplink is joining the Yellowstone business community. The company will establish its Research and Development Division in the newly constructed business center, with operations set to commence in the fall. Giedrius Motiejūnas, Head of Peplink's Lithuanian division, expressed the company's commitment to providing improved working conditions for its employees through this relocation. "In our search for a new office, accessibility and comfort were paramount considerations. The Yellowstone Business Center stood out due to its convenient location, well-designed layout, and favorable maintenance costs," Motiejūnas commented. The new premises will feature modern amenities including kitchen facilities, meeting rooms, and a dedicated server room for testing network equipment. Situated on Jasinskio Street, the nine-story Yellowstone building, designed by Prof. Rolando Palekas' architectural studio and "Planas B," signifies the revitalization of the "Business Triangle." This initiative, spearheaded by a collaborative effort of four architectural firms, aims to rejuvenate a 3-hectare area, integrating commercial, residential, and public functions while restoring connections with the Neris riverbank and fostering vibrant public spaces. Thirteen Lithuanian investors, including notable entities such as Marius Jovaiša's company "Unseen Pictures" and Tautvydas Barščius' company "Taba Invest," have contributed to the project. Leasing for the building is managed by "Colliers Baltics."

The Yellowstone Business Center is expanding its community. Royal Unibrew, a Danish conglomerate that owns the Kalnapilio-Tauro Group in Lithuania, will establish its IT center here to serve all the group's companies. According to Marijus Valdas Kirstukas, General Manager of the Kalnapilio-Tauro Group, this will be the second international unit of Royal Unibrew operating in Lithuania. The decision to continue investing in Lithuania was made in collaboration with Invest Lithuania. "With the successful operation of the financial operations center in Panevėžys, Royal Unibrew could realistically assess the infrastructure offered by the country. When considering the most suitable location for the IT center, it was noted that many other international companies' IT centers operate in Lithuania, and there is a large supply of specialists with the necessary experience and qualifications," said Mr. Kirstukas. According to Mr. Kirstukas, the selection of the premises was based on several criteria, including the need for a suitably sized office with the potential for future expansion. "Although the team is currently small, further expansion is planned. Therefore, we sought an optimally sized office where additional workplaces could be installed in the future. The premises at Yellowstone met this requirement, as the chosen office space can be flexibly modified according to our needs. Its location in the city, near the Vilnius branch office of the Kalnapilio-Tauro Group, and its convenient public transport access were also significant advantages," Mr. Kirstukas stated. Agnius Tamošaitis, Partner and Head of the Real Estate Division at Equite, the company providing project management services for the Yellowstone Business Center, emphasized that the building under construction on Jasinskio Street in the capital will meet the demand for high-quality and representative premises in the city. "The business center will open its doors in the summer, so companies needing premises in the short term can plan their move as early as July-August. With various planned space sizes, it will be convenient for both larger and smaller businesses to establish themselves here, with private kitchens and meeting rooms available in the premises," Mr. Tamošaitis said. Designed by Professor Rolandas Palekas's architectural studio and Planas B, the nine-story Yellowstone rising on Jasinskio Street is one of the first signs of the revitalization of the fundamentally renewing Business Triangle. Nearby, a 3-hectare area will be renewed based on a joint proposal by four architectural offices, harmoniously integrating commercial, residential, and public functions, restoring connections with the Neris riverbank, and creating cozy public spaces, with the aim of developing a lively and open district for everyone.

As memories of the pandemic recede, more news surfaces about employees being called back to the office. Among the high-profile employers already making this move are industry leaders like JPMorgan Chase, Amazon, Blackrock, Disney, and many more. This list could also include several companies based in Lithuania. New business centers designed to meet these needs are being developed, including "Yellowstone," which is currently rising in the capital. Offices are no longer just competing with each other, but with employees' homes. "Though the coronavirus pandemic that raged for several years may seem like a distant memory, its impact on work culture will likely be felt for many years to come. In a short period, employees experimented with and embraced new work habits, setting expectations for employers. These employers, in their pursuit of the best talent in the market, are attentive and share their requirements with real estate developers. This collaboration of interests leads to the creation of workplaces that satisfy everyone involved," explains Sandra Jovaišaitė, head of the Colliers Baltics commercial real estate brokerage department in Lithuania. According to the expert, employee needs can now confidently be placed at the forefront of considerations when selecting an office for rent. Recently, a good and high-quality office is not just competing with other offices in the city, but with an employee's home, which caters to individual needs. As a result, employees who are invited back to the office seek spaces that are functional for concentration and work, as well as comfortable for relaxation and leisure. "What was important before the pandemic remains critical today—the need for companies to have an office that serves a representative function, situated in a prime city location, with aesthetically pleasing common areas and well-organized access. Additionally, a developed trade and service infrastructure offers a significant advantage," says S. Jovaišaitė. In addition, the office must be economical and environmentally friendly. The real estate expert points out that in new business centers, features such as high-quality engineering systems, which allow employees to enjoy fresh air and maintain comfortable indoor temperatures throughout the year, as well as the building's environmental sustainability and its certified status, have become essential. Limited supply is enriched by implementing Professor R. Palekas's vision. According to the real estate consulting firm "Colliers Baltics," this year will see the Vilnius office market expand by 32,000 square meters. This represents the smallest annual change in supply in ten years. The vacancy rate for Class A offices will be approximately 5-5.5 percent, and for Class B1 around 8-8.5 percent. These are the lowest figures across the Baltic countries, indicating limited options for business newcomers in Lithuania's capital, especially those prioritizing higher employee welfare. One of the newest commercial real estate developments in the capital, augmenting the Vilnius office market this year, is the Class A business center "Yellowstone". It is strategically located at the intersection of the Old Town and New Town, close to Gediminas Avenue. The construction has reached its full height, and work on the facade decoration and interior installations is currently underway. An investment of 25 million euros has been committed to the development of this project. The nine-story, 9,800 square meter business center "Yellowstone" is being developed based on the concept by Professor Roland Palekas, in collaboration with his namesake architectural studio and the design company "Planas B." The spaces are thoughtfully designed to be flexible, allowing them to be tailored to the unique needs and specifics of each business. Tenants have the option to configure both open-plan areas and more private, enclosed spaces, and can even install a rooftop terrace offering spectacular views of the city center or the lush Žvėrynas. The project's common areas will be decorated with works by Lithuanian artists. "The project was designed to blend harmoniously into the urban landscape, and to be inspired by its visit. We aim to provide the kind of work spaces to which the employees themselves would like to return", says Agnius Tamošaitis, partner of the mixed investment company "Equite" managing the project and manager of investments in real estate. According to him, the business center will open its doors already in the summer, with several fully equipped premises, so companies that need premises in the short term can plan their move already in July. Due to the specific planning and flexibility of the premises, it will be convenient to create both larger and smaller businesses here, who want to have both private kitchens and meeting rooms in the premises. For the comfort of employees, shallow rooms with spacious opening windows to ensure the flow of natural light have been designed on each floor of the building, and the most advanced engineering systems have been installed so that the air in the rooms is always fresh and refreshing. Part of the revitalized prestigious business district of Vilnius Yellowstone is set to open this summer as one of the first markers of a significant revitalization in the capital's prestigious Business Triangle. Following the renovation of a 3-hectare area, which seamlessly blends commercial, residential, and public functions, along with restoring links to the Neris River embankment and crafting inviting public spaces, it is poised to foster a vibrant urban district accessible to everyone. "Following the completion of Yellowstone and the transformation of the nearby Business Triangle, the entire area will emerge as a new point of attraction in Vilnius. We are confident in the potential of this location, which benefits from substantial investments from both private businesses and the city. Soon, we will have a modern, contemporary district worthy of a European capital, where our project will integrate seamlessly," says A. Tamošaitis. A. Tamošaitis highlights the benefits for Yellowstone tenants, including good access by both personal and public transport, well-developed infrastructure, and a vibrant, green inner square where a café terrace is planned. The building will incorporate renewable energy solutions and modern engineering systems to ensure optimal microclimate control. The project is being implemented in accordance with the international sustainable building standard BREEAM, aiming to achieve a "BREEAM IN USE Excellent" rating.

The company of the renowned photographer and entrepreneur Marius Jovaiša has become a direct member of the "Jasinskio 14", indirectly controlling the business center "Yellowstone" being developed in Vilnius, replacing the investment company "Equite". The owner of "Equite", Vilius Kavaliauskas, has withdrawn from the list of "Yellowstone" investors, selling his share to M. Jovaiša's company "Unseen Pictures". "Equite" will continue to provide project execution services. Since the beginning of the project, M. Jovaiša has been one of the 13 Lithuanian investors indirectly controlling "Yellowstone". The largest investor in the project remains the well-known entrepreneur Tautvydas Barštys, whose company "Taba Invest" owns 46.8 percent of shares. After the change in structure, “MJ Projects” became a full member of the "Jasinskio 14". The construction of the 9-storey, 9800 square meter business center "Yellowstone" on Jasinskio Street in the capital is expected to be completed in the second quarter of this year. Planned office building in J. Jasinskio str.

At the end of last week, first transaction of "Equite" took place – the acquisition of a new business center development project in Vilnius. It is planned that the construction works of the business center Jasinskio 14 with an area of about 9.500 square meters will be completed in the second half of 2023. "Even though the pandemic has changed our working habits, the need for quality and well-located office buildings has not disappeared. After closing the deal, we will revive the construction that was suspended during the pandemic in this attractive facility.“- Agnius Tamošaitis, Partner and Head of Real Estate at “Equite”

Naujienų portale „Verslo žinios“ skaitykite apie „Equite“ vystomo verslo centrą Vilniuje, J. Jasinskio g. 14. Šiam projektui suteiktas „Yellowstone“ vardas, inspiruotas pastato fasado struktūros bei kolorito. „Projektu prisidedame prie šios miesto dalies atsinaujinimo – ilgą laiką visai prie pat Gedimino prospekto nevyko jokių modernių verslo centrų statybų. Artimiausiu metu čia iškils ne tik „Yellowstone“, bet ir įvyks šalimais esančio Verslo trikampio transformacija – kvartalas taps nauju Vilniaus traukos tašku.“ - sako Agnius Tamošaitis, „Equite“ partneris, investicijų į NT vadovas

Sharing news about "Equite" activities in Verslo žinios – the project of business center in J. Jasinskio str. 14, Vilnius, was given the new name “Yellowstone”, inspired by the structure and color of the building’s facade. “With the project, we contribute to the renewal of this part of the city – for a long time, no modern business centers were built right next to Gediminas Avenue. In the near future, not only “Yellowstone” will rise here, but also the transformation of the neighboring Business Triangle will take place – the area will become a new point of attraction for Vilnius.” - says Agnius Tamošaitis, Partner and Head of Real Estate at “Equite”

“Equite” has reopened the construction works of the business center in J. Jasinskio street. “We renewed the works that were suspended by the previous owners during the pandemic. We plan that the business center will be completed in the first half of 2024. We are also starting to look for the tenants, to whom we will be able to offer premises of various sizes.” - Agnius Tamošaitis, Partner and Head of Real Estate at “Equite”

Praėjusios savaitės pabaigoje įvyko pirmasis "Equite" sandoris – verslo centro plėtros projekto Vilniuje įsigijimas. Planuojama, kad apie 9 500 kv. metrų ploto verslo centro J. Jasinskio g. 14 statybos darbai bus užbaigti 2023 metų antrąjį pusmetį. „Šiandien galime pasidžiaugti pirmąja mūsų investicija NT srityje. Nors pandemija ir pakeitė mūsų darbo įpročius, poreikis kokybiškiems ir geroje lokacijoje esantiems biurų pastatams niekur nedingo. Užbaigę sandorį atgaivinsime per pandemiją pristabdytas statybas šiame patraukliame objekte.“- Agnius Tamošaitis, „Equite" partneris, investicijų į NT vadovas