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News Release

Moscow

Pavlovsky Business Center welcomes another tenant - Rohde & Schwarz, which leased approximately 1,500 sq m leading to 95% occupancy of the business center


Pavlovsky Business Center welcomes its third tenant – Rohde & Schwarz - world market leader in the field of test and measurement equipment as well as terrestrial TV transmitters – the company that for more than 75 years specializes in quality and innovation in test and measurement, broadcasting, secure communications as well as radiomonitoring, TV and radio broadcasting. Central Properties is the developer of Pavlovsky Business Center. International consulting company Jones Lang LaSalle acted as the advisor of this lease acquisition deal.
 
“ROHDE & SCHWARZ RUS” LLC will occupy approximately 1,473 sq. m (the entire 5th floor) of Pavlovsky Business Center, leading to circa 95% occupancy of the total rentable area of the business center. The company will move in the first half of 2011 upon the fit-out works completion.
Pavlovsky Business Center with the total rentable area of 11,924 sqm consists of 10 surface and 3 underground floors.
 
It is located in the south of Moscow within approximately 800 meters from the Garden Ring and 1 kilometer from the Third Ring Road at 7, Pavlovskaya Street, bld. 1. The construction of Pavlovsky Business Center started in 2008. In July 2009 the construction works were finished and the Operation Permit was obtained. The Ownership Title was received in February 2010. Pavlovsky Business Center was nominated the “Best Class A Business Center, 2010” within Commercial Real Estate Moscow Awards 2010.
 
Pavlovsky Business Center accommodates the headquarters of OJSC Enel OGK-5 - one of the leading wholesale power generating companies in Russia (the joint venture of Enel, the largest Italian power generating company and one of the largest energy companies in the world and OGK -5, Russian energy producer established as the results of restructuring of RAO UES of Russia), MSD Pharmaceuticals LLC (the company created as a result of the merger between Merck & Co, Inc. and Schering-Plough) - a global healthcare leader and now “Rohde & Schwarz Rus” LLC.
 
Dmitry Kiritopulo, First Deputy Chief Executive Officer, Central Properties noted: “We initially met representatives of “ROHDE & SCHWARZ RUS” LLC in the first quarter of 2008 during commercial discussions to lease office premises at Dvintsev Business Center, also developed by Central Properties. We are extremely proud that after such a thorough office search “ROHDE & SCHWARZ RUS” LLC has eventually chosen Central Properties as their long term landlord and Pavlovsky Business Center as their head quarters in Russia. We are also happy to be able to achieve a diversified tenant mix at Pavlovsky by adding a producer of highly technological equipment to our existing tenant mix, consisting of companies from pharmaceutical and energy sectors”.
 
Elizaveta Golysheva, Associate Director, Office Agency, Jones Lang LaSalle, pointed out: “Central Properties team once again showed its professional and client-oriented approach to the work with an international tenant, which has been in search of the office premises for its HQ for quite long time. In general Pavlovsky’s commercial success (which active marketing started in the midst of economic slump) proved that the project located in close proximity to Garden Ring can be leased out efficiently and within relatively short period of time provided thorough marketing strategy and professional approach to the tenants’ the most sophisticated requirements”.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specialising in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 149 million square meters worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $38 billion of assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Almaty. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009 and 2010 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.joneslanglasalle.ru.