Knight Frank has leased 70% of available space at a class А warehouse complex in southern Moscow. Tenants for the first stage of the project, which is being implemented by Moscapstroy, are the Western and Russian companies such as LG Electronics, Autotrading and Supremo.
The Russian branch of LG Electronics has rented 3425 sq m of warehouse space for 5 years. Autotrading LLC, the biggest Russian haulage operator, has taken a long-term lease on 9300 sq m of warehouse and office premises. Supremo, a Russian distributor of animal foods, has signed a rental agreement for 4230 sq m.
The project developer, Moscapstroy, completed the warehouse complex on Warsaw Highway in October 2010. The two buildings have 25 300 sq m of warehouse and office space, and stand on a 6-hectare site.
The warehousing has convenient access to main transport arteries (Moscow’s’ Third Transport Ring, and the Moscow Ring Road) and issues directly onto two of the capital’s principal roads: Warsaw Highway and Simferopol Highway. Tenants enjoy the benefits of developed infrastructure and the services of a professional management company. The complex has modern communications, and parking for goods vehicles and cars.
The international consulting company, Knight Frank, acted as exclusive marketing and lease consultant of the project.
Alexander Dubrovsky, the first vice-president of Moscapstroy, said that the company expects the premises to be fully let by this spring. “We have long and successful experience in commercial property and wanted to expand into the warehouse segment, which we view as highly promising. We chose the location purposely, since the southern side of Moscow enjoys strong demand among warehouse customers. Accessibility and location close to a metro station offer additional unique advantages to our tenants. We have done all we can to ensure that our new facility offers everything that tenants would expect of class-A premises. Consistently high demand for the space confirms that we have made the right choice.”
The CEO of Autotrading, Mikhail Chuprunov, emphasized that development of his company’s owns chain of logistics centres is crucial for retaining leadership on the Russian haulage market. “We were impressed by the developer’s flexibility in negotiations, high quality of the project, and the large territory at the site. The extra space now at our disposal means that we can expand our network of services to customers and improve service quality. This Moscapstroy project will help us to remain the leading haulage company in Russia.”
Vyacheslav Kholopov, head of the Industrial, Warehouse and Land Department at Knight Frank, pointed out that the Moscapstroy project represents the only modern class-A warehouse development in the city of Moscow during the last 3 years. “We are pleased by our successful and long-term association with Moscapstroy – since 2004 – on the commercial property market. We are also pleased by success of this logistics project. Quality of construction is high and the time from start of building work until commissioning was less than one year.”