Jones Lang LaSalle's tenant representation team has announced two recent leasing deals in the Russian capital. In the first, the broker's team completed a leasehold transaction for the Russian unit of pharmaceutical company Sandoz at the 288,000-m[sup]2[/sup] class-A Capital City business centre in Moscow.
Jones Lang LaSalle's tenant representation team has announced two recent leasing deals in the Russian capital. In the first, the broker's team completed a leasehold transaction for the Russian unit of pharmaceutical company Sandoz at the 288,000-m2 class-A Capital City business centre in Moscow.
The preliminary lease was signed in September, 2008 for Sandoz to relocate in 2009. JLL said the Moscow team conducted a complex market search and analysis exercise to identify an ideal property to match Sandoz's expectations and requirements. JLL's project management unit is currently managing Sandoz fit-out project.
The tenant representation team also completed a leasehold transaction of 5,600-m2 on behalf of Confidential West-European Bank, a major international bank operating in Russia. The bank is relocating its call centres to a new Class B building in Moscow.
Andrey Postnikov, European Director, Russia and CIS, Head of Corporate Solutions at JLL said: 'We are glad to say that despite the developing financial crisis, companies and banks working in Russia are continuing with their real estate projects. As the changing real estate market offers occupiers new opportunities, new risks are appearing as well. This opens new challenges for our tenant representation team, as they work to create more detailed strategies and make more demands on developers in negotiating and signing leases.'
