Following Nokia’s decision to sell and lease back its Espoo HQ in a €170 million deal with Exilion late last year, the company has sold its Peltola campus in Oulu, Finland to domestic business space provider Technopolis for €30.5 million ($40.8 million).
As per the filling with the Finnish Stock Exchange, Technopolis will acquire a total of 37,600 sqm of office space, with parking garages catering over 800 cars. The total investment the Technopolis made, including the purchase price will be €31.7 million ($42.2 million).
“As we have said, we are focusing on our core business and evaluating the sale of non-core assets like real estate,” says Juha Olkinuora, Vice President, Nokia. “Nokia and Technopolis have collaborated in Oulu for more than 20 years, so they are a natural partner for us. We will continue our operations at the campus as before.”