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Deal closed for the purchase of a warehouse for proprietary use of the company
Moscow, 18 August, 2015 – Russian development company PNK Group and adidas, the global leader in the sporting goods industry, have closed a deal for the sale of warehouse space in the PNK-Chekhov II class A+ industrial park in the Moscow Region of Russia. As part of the deal, the adidas Group purchased a building of 120,000 square meters for its proprietary use. The company JLL advised on the deal which represents the largest purchase of warehouses by the end user in the history of the Russian market.
The PNK-Chekhov II industrial park is situated near Chekhov, a town in the Moscow Region on the Simferopol highway, 49km from MKAD, the Moscow ring road, and 20km from the A107 highway. All 316,000 sq m of warehouse space in the industrial park was completed in 2012-2013 and to the date all its spaces are sold to the end-user — large Russian and international companies.
The adidas Group have had a presence in the PNK-Chekhov II industrial park since 2012 when it became the anchor tenant, taking 65,000 sq m. This deal witnesses the purchase of the entire building in order to further expand its business. For the adidas Group the deal is of strategic significance.
““Our company has been on the Russian market for many years and in addition to being the market leader in the sporting goods industry, the adidas Group is a leading retailer in Russia. We see long term potential in this market and therefore we continue to invest in best infrastructure. E-commerce continues to reshape the retail world and our investment in this distribution center is part of a larger plan to accelerate the speed of service and deliver the ultimate consumer experience.” – said Martin Shankland, Managing Director of adidas Group CIS.
Oleg Mamaev, CEO of PNK Group, commented: “PNK Group is an acknowledged leader in the development of A+ class logistics centers. Our strategy is to develop state-of-the-art industrial parks and sell them to final owners. The adidas Group’s decision to buy space at PNK-Chekhov II industrial park after three years of tenancy speaks volumes about our property’s quality and proves our ability and commitment.”
“The logistics property market of Russia and the Moscow region now offers companies with long-term business plans a unique opportunity to acquire a high-quality object where they can develop and completely control their own logistics at a reasonable price.” noted Petr Zaritskiy, Regional Director, Head of Warehouse and Industrial Department, JLL, Russia and CIS. “For an international giant like the adidas Group, the purchase of a warehouse in PNK-Chekhov II is an investment in their expansion in Russia. For the PNK Group, the deal represents a well-deserved success of its development strategy. This transaction sets a new national record for logistics space purchased by an end-user.”
Alexey Efimov, Executive Board Member, Regional Director, JLL, Russia & CIS, added: “Such an investment by a big Western player is good news for the entire real estate market in Russia. It proves that foreign companies feel optimistic about the region’s prospects and consider logistics property a stable and attractive sector even in a volatile economy.”
JLL (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. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015, and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.
For further information, visit www.jll.ru
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