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.

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”

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”

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