Raven Russia has fully leased the 99 000 sq m first phase of the Class–A Don Logopark warehouse complex in Rostov-on-Don Mobis Parts CIS, the Russian subsidiary of Korean concern HYUNDAI MOBIS, has signed a lease agreement with Raven Russia to the last 5 400 sq m at the first stage of the Don Logopark, which is one of the biggest class-A warehouse projects in Russia’s Southern Federal District. The term of lease is 5 years.
The premises leased by the company include warehouse space, mezzanine and offices. The rentable area will be used for the storage of the original spare parts and accessories for vehicles produced by KIA and HYUNDAI. Knight Frank acted as consultant to the transaction. Thus, the first phase of the Don Logopark has been fully leased out by tenants.
Don Logopark is the only large class-A logistics project in Rostov-on-Don. It also has the advantage of favourable location, only 10 km from the city centre and 1.5 km from the city ring road. The Logopark is adjacent to the Moscow-Rostov highway and 2 km from Rostov’s main retail and commerce zone.
In addition to MOBIS Parts CIS, the largest tenants of the first phase of Don Logopark include several companies: Auchan, X5 Retail Group, RosLogistics, Rulog, TsentrObuv (footwear), SportMaster, and others.
Igor Bogorodov, Head of the Branch, Raven Russia, said: “We expect growth in liquidity of speculative warehouse facilities in a number of Russian regions by the end of 2013. The forecast for development of the warehouse segment in Rostov-on-Don is clearly optimistic, which is why we selected the region for implementation of such a large-scale logistics project as the Don Logopark.”
Konstantin Fomichenko, Associate Director of the Warehouse, Industrial, Land Department at Knight Frank Russia and CIS, commented on this transaction: “Demand for quality warehouse space in Rostov-on-Don will be consistently high, regardless of how the economic situation in Russia develops. The transaction, which is large by local market standards, is a confirmation of this.”
Don Logopark offers the numerous benefits associated with class-A warehouse facilities, including a developed infrastructure, high quality of construction, the latest engineering and technical equipment. Besides the warehouses, the facilities have a built-in office premises, parking space for goods vehicles and cars, as well as other features. The complex is under management of Raven Russia Property Advisors Ltd.
Raven Russia is the leader on the Russian warehouse sector. The Company specialises in investments in ready, class-A warehouses and construction of new warehouses in Russia’s biggest cities. Raven leases its warehouse space to Russian and international companies, which currently include Auchan, X5 Retail Group, Bacardi, L’Occitane, Danone, Azbuka Vkusa, and many others. Raven’s strategy is for long-term ownership of its projects and its portfolio consists of 10 class-A projects in Moscow, Saint-Petersburg, Rostov-on-Don and Novosibirsk with total space of about 1 million sq m. In addition to ready projects, Raven owns 368 hectares of land in Russia, Belarus, and Ukraine and has sufficient financial resources for further construction projects, including build-to-suit. Investments in Company projects over a period of six years have totalled $1.5 billion. Shares of Raven Russia are traded on the London Stock Exchange.
HYUNDAI MOBIS is the official manufacturer and supplier of original spare parts and accessories for vehicles built by the leading Korean automotive brands, KIA and HYUNDAI. The Company has been represented in Russia since 2004 by its subsidiary, Mobis Parts CIS.