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IKEA leases 72,000 sqm in new Logopark North warehouse project

Largest ever Russian industrial leasing transaction with a professional consultant


LONDON, 19 June 2013 - IKEA, the leading global retail chain selling furniture and home furnishings, signed a long-term lease agreement of 71,800 sq m in the Grade A warehouse Logopark North. Jones Lang LaSalle exclusively marketed and advised on the project.

IKEA has fully leased the II phase of Logopark North for seven years, resulting in the complex reaching 100% occupancy. This deal is  the largest  transaction with a professional consultant across the Russian warehouse market.

Goran Hansson, General Director, IKEA TORG LLC: “IKEA has been successfully operating in Russia for more than 13 years, and we are glad that our company has become so popular. We have decided increasing the size of warehouse space to secure the efficiency of goods deliveries to our customers in Russia. Logopark North is a unique solution for IKEA which meets our standards and is a perfect addition to the existing Esipovo distribution centre in the Moscow region.”

Peter Zaritskiy, National Director, Head of Warehouse & Industrial Department, Jones Lang LaSalle, Russia & CIS: “This transaction is  a unique event in the Russian industrial market. All aspects of the deal are very important – both a record volume of leased area and the globally recognized  brand involved in the deal. It is interesting to note that IKEA chose a brand-new project to allocate its new distributing center – this additionally highlights the transaction’s exclusivity. The property’s distinctive features which drove the decision for IKEA were a prime location, high speed of construction as well as a complete adjustment of the property to the strict requirements of the Swedish company. Logopark North is a rare example of an industrial facility which is fully leased prior to the state commissioning.”

Elena Bondarchuk, Managing Partner of Logopark Development: “For us signing the agreement with IKEA is not just the conclusion of a very interesting and complex deal, but an official market recognition of our logistic complex. At the moment, several months before the construction completion, 100% of Logopark Sever area is leased. In many years of our experience and the implementation of deals with big international companies we have never faced such detailed technical, legal and other checks which were implemented by IKEA specialists. We are very grateful to IKEA’s team for the professional and organized work and to Jones Lang LaSalle for the quality lease of the complex in a record short term.”

Grade A warehouse complex Logopark North is located on A107 highway (“Betonka”), 7 km from Leningradskoe highway and close to its alternate road – the new high-speed highway Moscow – St. Petersburg. This location will reduce the drive time to MKAD down to 15-20 min as well as will provide quick and undisturbed access to the Sheremetyevo International Airport.

The total area of Logopark North is 110,000 sq m. The latest achievements in industrial and logistic development as well as the most efficient space and infrastructure arrangements are implemented in the project. The tenants of the Logopark are a logistic operator GlobalLogisticProjects, retailers Eldorado and IKEA. The delivery of the project is planned for summer 2013.

About IKEA

IKEA offers a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. This is the idea at the heart of everything IKEA does, from product development and purchases to how we sell our products in IKEA stores globally.

Anybody can make a good-quality product for a high price, or a poor-quality product for a low price. But to make good products at low prices, you need to develop methods that are both cost-effective and innovative. This has been the focus of IKEA since its beginnings in Småland, Sweden Maximising the use of raw materials and production adaptation to meet people's needs and preferences has meant that our costs are low. The IKEA way of doing things is to pass these cost savings on to you, our customers. For further information, please visit www.ikea.com

About Logopark Development

Elena Bondarchuk has more than 7 years of experience in Russian industrial real estate market. Before starting her own development business Elena was a partner in PNK Group and the general director of warehouse complexes PNK-Sholokhovo and PNK-Chekhov.
Elena also has an extensive experience in production sphere – she worked in the international company Nestle Waters as production director, and owned the company Aquatek specializingin production of equipment and components for water bottling business.

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 242 million square meters and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management.

In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Aktau. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.

For further information, please visit www.jll.ru