Cushman & Wakefield closes major deal for Deloitte in Russia's office rental market (RU)

Cushman & Wakefield Stiles & Riabokobylko, the Russian office of global real estate consultant Cushman & Wakefield, has negotiated the relocation of Deloitte's Russian office to White Square Office Center, one of the biggest office buildings in Moscow. Deloitte will occupy office premises totaling 29,000 m², which makes it the biggest deal of the year in the office rental market in Russia.

Jointly constructed by US developers AIG/Lincoln and Coalco, White Square is a 70,000 m² premier Class-A office complex consisting of two 15-floor buildings and one six-floor building (building A - 34,025 m², building B - 29,976 m² and building C - 9,920 m²). White Square is situated in the center of Moscow, near Belorusskaya metro station, in one of the preferred locations for international companies in the Russian capital.

Deloitte will fully occupy building B office premises for an 11-year term. The company plans to move to the new office in mid 2008.

Dan Koch, Managing Partner of Deloitte CIS, says: "Our firm has demonstrated 50% annual growth during the last five years. Naturally, our office space needs have expanded as well. We are sure that our business will maintain its pace of growth in the future. White Square is in full compliance with Deloitte's requirements."

Brian Patterson, Managing Partner of AIG/Lincoln Russia, says: "We were very pleased that an internationally well known company such as Deloitte has chosen White Square Office Center for its main business location in Russia."

Aaron Block, Head of Office Agency, Cushman & Wakefield Stiles & Riabokobylko, adds: "It is important to recognize the significance of this transaction. Not only does the deal secure Deloitte's occupancy needs for the next few years, and it is the first deal closed at the début Russian development of AIG/Lincoln and Coalco, but also people are calling this the largest office transaction in Russia's history."

White Square Office Center will be delivered December 2007-2008. Aaron adds: "Preleasing office space will continue to be the corporate occupiers' preferred method of beating Moscow's skyrocketing real estate prices for the foreseeable future."

Source: Cushman & Wakefield

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