Catena is investing €11.9 million in a new logistics facility in Pirkkala, part of the Tampere region in Finland. The 5,800 m² property will be fully leased to a Finnish industrial automation company under a seven-year lease agreement. The investment reflects an initial net yield of 7.4%.
The new facility will be developed alongside the E12 motorway, close to Tampere-Pirkkala Airport and Catena’s two existing properties in Pirkkala. The building will comprise approximately 5,800 m² of warehouse and distribution space, assembly areas and offices, on a site covering approximately 14,400 m².
The investment will be structured as a corporate transaction with Finnish property developer and construction company Teräselementti Oy, which will also be responsible for constructing the facility. The investment corresponds to €2,055/m².
The property is fully pre-let to a Finnish industrial company operating in the automation sector. A seven-year lease agreement has been signed, with the property expected to generate annual net operating income of €879,000.
The building will have an energy performance rating of B and will be designed to provide modern, energy-efficient premises.
Construction is scheduled to begin in autumn 2026, with completion and tenant occupation planned for autumn 2027. The investment further strengthens Catena’s presence in the Tampere region, where the company already owns two properties in Pirkkala.
Since entering the Finnish property market earlier in 2026, Catena has expanded its portfolio to 19 properties. The new development in Pirkkala will become the company’s twentieth property in Finland.