Colliers to market new logistics park in Moscow

Colliers International has been appointed the exclusive lease and sales agent for a new logistics park on the outskirts of the Russian capital Moscow.

The Sofino logistics park will boast more than 840,000 m2 of lettable area upon completion, mostly comprising Class A industrial and warehouse space.

The investment cost of the project is $600 mln (€455 mln) and investor AT Real Estate has already launched the first phase of the project.

Commissioning of the first phase is scheduled for the second quarter of 2014 and the final phase will be ready in 2018.

Technopark Sofino is acting as the developer and managing company for the project, on behalf of AT Real Estate.

Colliers claims the project will become a benchmark for industrial and warehouse complexes in Russia.

Colliers regional industrial director Vladislav Ryabov said: ‘The scale of the Sofino logistics park is quite substantial both for a single development project and for the entire Russian warehouse market as a whole. It will account for 16% of the total new build in the Moscow region over the next five years.’