Baltic Sea Properties AS signed two lease agreements with the French-owned parcel delivery group DPD for the development of two new distribution centers in Siauliai and Telsiai, Lithuania. The size of the terminals combined is approx. 4000 m2 and will be tailored for distribution and logistics of parcel deliveries, with scheduled delivery by second quarter of 2022. The lease agreements are both with a 15-years unbreakable lease term on triple net terms. The Company will under the lease agreement also have the obligation to provide and take over further expansions (minimum 1000m2) for both terminals within five years, subject to the tenant’s request within the period.