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International retailer Globus leases 45,000 sq m at Industrial Park Kholmogory, Russia

JLL advised on the largest leasing transaction of an international food retail chain in Russia

The Globus Group, a prominent German retailer developing the Globus hypermarket grocery chain, has today leased 45,000 sq m at Industrial Park Kholmogory, a Class A complex located in the Moscow region. JLL advised on the deal which represents the first direct lease contract by Globus in Russia. The transaction was closed before commissioning of the property.

The price remains confidential, although this deal represents the largest leasing transaction of an international food retail chain ever in Russia.

Industrial Park Kholmogory is located 30 km away from the Moscow Ring Road near Yaroslavskoye Highway. The 57 ha plot has good traffic access: situated on the Yaroslavskoye Highway, also known as the M-8 Kholmogory Highway, in proximity and with direct access to the A-107 highway (the "Betonka" Beltway). The project will have a total area of 250,000 sq m. The first phase, 91,500 sq m in size, was commissioned in Q2 2015. The developer, the Kholmogory company, aims to become one of the largest developers on the industrial and warehousing property market and raise its project portfolio to 1 million  sq m.

The Globus hypermarket chain dates back to 1828. It has been successfully growing on the Russian market since 2006 and currently has 10 stores in the Moscow region and elsewhere. The 11th and largest hypermarket will open in Pushkino this November. The complex in Kholmogory will house a fully-fledged distribution center for Globus. The developer has built storage facilities with several temperature regimes to the tenant's specifications, including 11,200 sq m of cold storage facilities and dry warehouses. Globus intends to start working on new platform in October.

Andrzej Bald, Head of department, Own Warehouse, Globus hypermarket chain: "Our strategy requires complete control over our properties – both retail and logistic. We wanted to improve and expand our logistics processes, and the situation on the Russian real estate market was favorable to transition from partial management of logistics at our warehouses to complete control at our new Kholmogory platform. This property combines several advantages we value: it is well-placed for optimizing delivery to our hypermarkets, several temperature regimes are combined in one building, and the owner is supportive of our desire to create a European-class logistics hub."

Petr Zaritskiy, Regional Director, Head of Warehouse and Industrial Department, JLL, Russia and CIS: "Today, grocery retailers are among the most active tenants and buyers of warehousing space on the Russian market. This market segment remains stable even in times of economic uncertainty, and long-term planning horizons provide food operators with the opportunity to benefit from current market conditions and occupy prime-quality warehouses. The 45,000 sq m leased at Kholmogory is a record-setting deal of an international grocery retailer on the Russian warehousing market. It is also in the top 5 largest warehouse leasing transactions of foreign companies in the Russian history. This confirms the market's excellent potential and its appeal to foreign players despite the overall economic situation."

Andrey Sarmin, Commercial Director, Industrial Park Kholmogory: "Kholmogory is our largest warehouse project, and we are happy to welcome Globus, an important international retailer, among our tenants. The company's decision to establish its only distribution center in Russia in our premises proves a very high opinion on the asset quality. Kholmogory is the first A class logistics scheme built on Yaroslavskoye Highway since 2008, and tenants are very interested. M-8 Highway is under reconstruction now, and works should be completed this year. The highway's traffic capacity is expected to increase by 50%, and that would give the complex and its tenants an additional competitive advantage."