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JLL advised on the largest leasing transaction of an international food retail chain in Russia
Moscow, 31 August, 2015 – The Globus Group, a prominent German retailer developing the Globus hypermarket grocery chain, has today leased 45,000 sq m at Industrial Park Kholmogory, a Class A complex located in the Moscow region. JLL advised on the deal which represents the first direct lease contract by Globus in Russia. The transaction was closed before commissioning of the property.
The price remains confidential, although this deal represents the largest leasing transaction of an international food retail chain ever in Russia.
Industrial Park Kholmogory is located 30 km away from the Moscow Ring Road near Yaroslavskoye Highway. The 57 ha plot has good traffic access: situated on the Yaroslavskoye Highway, also known as the M-8 Kholmogory Highway, in proximity and with direct access to the A-107 highway (the “Betonka” Beltway). The project will have a total area of 250,000 sq m. The first phase, 91,500 sq m in size, was commissioned in Q2 2015. The developer, the Kholmogory company, aims to become one of the largest developers on the industrial and warehousing property market and raise its project portfolio to 1 million sq m.
The Globus hypermarket chain dates back to 1828. It has been successfully growing on the Russian market since 2006 and currently has 10 stores in the Moscow region and elsewhere. The 11th and largest hypermarket will open in Pushkino this November. The complex in Kholmogory will house a fully-fledged distribution center for Globus. The developer has built storage facilities with several temperature regimes to the tenant's specifications, including 11,200 sq m of cold storage facilities and dry warehouses. Globus intends to start working on new platform in October.
Andrzej Bald, Head of department, Own Warehouse, Globus hypermarket chain: “Our strategy requires complete control over our properties – both retail and logistic. We wanted to improve and expand our logistics processes, and the situation on the Russian real estate market was favorable to transition from partial management of logistics at our warehouses to complete control at our new Kholmogory platform. This property combines several advantages we value: it is well-placed for optimizing delivery to our hypermarkets, several temperature regimes are combined in one building, and the owner is supportive of our desire to create a European-class logistics hub.”
Petr Zaritskiy, Regional Director, Head of Warehouse and Industrial Department, JLL, Russia and CIS: “Today, grocery retailers are among the most active tenants and buyers of warehousing space on the Russian market. This market segment remains stable even in times of economic uncertainty, and long-term planning horizons provide food operators with the opportunity to benefit from current market conditions and occupy prime-quality warehouses. The 45,000 sq m leased at Kholmogory is a record-setting deal of an international grocery retailer on the Russia warehousing market. It is also in the top 5 largest warehouse leasing transactions of foreign companies in the Russian history. This confirms the market's excellent potential and its appeal to foreign players despite the overall economic situation.”
Andrey Sarmin, Commercial Director, Industrial Park Kholmogory: “Kholmogory is our largest warehouse project, and we are happy to welcome Globus, an important international retailer, among our tenants. The company's decision to establish its only distribution center in Russia in our premises proves a very high opinion on the asset quality. Kholmogory is the first A class logistics scheme built on Yaroslavskoye Highway since 2008, and tenants are very interested. M-8 Highway is under reconstruction now, and works should be completed this year. The highway's traffic capacity is expected to increase by 50%, and that would give the complex and its tenants an additional competitive advantage.”
Notes to editors:
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 $56.0 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.
About Globus hypermarket chain
Globus Hypermarket Holding (Globus SB-Warenhaus Holding GmbH & Co. KG) is a German retail chain of hypermarkets “Globus”, DIY stores “Baumarkt” and electronics stores “Alpha-Tecc”.
More than 185 years ago, the Globus founder Franz Bruch set up the company with a promise of „the cheapest and most adequate service“. Globus is a family company, up to today it is managed from the Bruch‘s family in the 5th generation. The principle “We focus on our customers – and on fulfilling their wishes!” stays a main principle today.
The first hypermarket with the Globus brand was opened in 1966, and today there are 71 Globus hypermarkets in Germany (46), the Czech Republic (15) and Russia (10). In Russia, the first hypermarket was opened in Shchelkovo near Moscow in 2006. Today, there are 10 hypermarkets in Moscow, Vladimir, Klimovsk, Korolyov, Ryazan, Shchelkovo, Yaroslavl, Tver, Electrostal and Tula. About 140 000 customers visit Globus hypermarket in a week.
A particular highlight of Globus is own production. There are four own shops – Butchery, Bakery, Fish Production and Production of Salads and Delicatessen in Globus.
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