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News Release

Moscow

New Leasing Team of the Preo 8 Business Centre


Moscow, 24 October 2013 – Two international consulting companies Jones Lang LaSalle and Cushman & Wakefield are chosen as co-exclusive leasing agents of the Preo 8 Class A business centre.

Preo 8 is the new class A office building located next to the “Preobrazhenskaya ploschad” metro station. The total area of 27-storey building amounts to 117,500 sq m, with 85,000 sq m GLA. 6-level underground parking provides a ratio of 1/100 between parking places and GLA. The Title of ownership was obtained in Q2 2013.

Preo 8 has an excellent transport accessibility. Business centre is situated at the: Preobrazhenskaya square, 8, close to the Third Transport Ring (TTR). The scheme location provides for a fast and convenient access to the Garden Ring and the city centre.

The work on the Preo 8 is implemented by the professional team: an international investment group Starr International Company, Inc and MontazhSpetsStroy-GSMK are the business centre investors and developers. Sawatzky Property Management, an International company, provides property management services at the business centre.

Preo 8 anchor tenants are Morton Group – a construction company (around 15,000 sq m), Russkiy Standart bank (12,000 sq m), BDO, leading national audit and consulting company (6,000 sq m), Positive Technologies (4,000 sq m), and Leto Bank (4,000 sq m). Apart from this, several HQs of the international companies in Russia situated in Preo 8, incl. Gea Westfalia Separator Group, a German manufacturer of technological systems for food and energy industries; Draeger, a German medical equipment supplier, Teleperformance, a Belgian company and a  worldwide leader in outsourcing multichannel customer experience, the insurance company Oranta, a part of the Dutch Achmea Group, and others.

Lila Vad, CEO, Starr International Company, Inc, said: “The very fact, that so many international and Russian companies opted for Preo 8, clearly speaks for our business centre success. At present almost 50,000 sq m have been already leased, which accounts for 60% of GLA. As we face the fourth quarter of the year, which is also the most active period of the year, we decided to update the project brokerage team to maintain high leasing rate.”
 
Anna Panyukova, Associate Director, Office Agency, Jones Lang LaSalle, Russia & CIS, noted: “Jones Lang LaSalle has believed in Preo 8 back in 2011, when the marketing and leasing process only started. One can say, we participated personally in forming a new image of Preobrazhenskaya district, as the new office submarket in Moscow. In our opinion, Preo 8 is a perfect example of how professional market players are able to change the tenants’ opinion about a particular district of Moscow, broadening the horizons of the office search and expanding it beyond the Garden Ring. Today, the tenants who choose projects, like Preo 8, do not just improve the work conditions of the employees, but at the same time can manage the costs, connected with their office lease more effectively, and the latter is quite the theme in the market after the crisis of 2008-2009.”
 
Ludmila Mamedova, Senior Consultant, Office Property, Cushman & Wakefield, commented: “We are happy that Cushman & Wakefield team is appointed a Preo 8 co-exclusive consultant. This project has drastically changed the image of the east part of Moscow and let it become a new business cluster in the city. We see much interest in Preo 8 from domestic and global tenants. The important advantages of Preo 8 are its location and almost no competition – there is no class A office properties in the Sokolniki district. I am confident that due to the new team efforts Preo 8 will get the quality tenant mix.”
 

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 242 million square meters and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg and Kiev. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 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.jll.ru