Home furnishings giant Ikea has agreed to take 72,000 m2 of space in the new Logopark North warehouse project near Moscow, bringing the development to full occupation.
Home furnishings giant Ikea has agreed to take 72,000 m2 of space in the new Logopark North warehouse project near Moscow, bringing the development to full occupation.
Ikea has fully leased Phase II of Logopark North which will occupy with a seven year rental agreement.
Jones Lang LaSalle marketed the project on behalf of developer Logopark and advised on the deal, which represents the biggest transaction in the Russian industrial & warehouse market.
Located near the Sheremetyevo International Airport, Logopark North provides a total of 110,000 m2 with tenants including logistic operator GlobalLogisticProjects, retailers Eldorado and Ikea. Delivery of the project is planned for summer 2013.
'Logopark North meets our standards and is a perfect addition to the existing Esipovo distribution centre in the Moscow region,' said Ikea's general director Goran Hansson.
Peter Zaritskiy, head of JLL's Warehouse & Industrial Department in Russia & CIS said that the features which drove Ikea's decision 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,' he added.
