IKEA leases 72,000 m² in new Logopark North warehouse project (RU)

IKEA, the leading global retail chain selling furniture and home furnishings, signed a long-term lease agreement of 71,800 m² in the grade-A warehouse Logopark North. Jones Lang LaSalle exclusively marketed and advised on the project.

IKEA has fully leased the II phase of Logopark North for seven years, resulting in the complex reaching 100% occupancy. This deal is the largest transaction with a professional consultant across the Russian warehouse market.

Goran Hansson, General Director, IKEA TORG LLC: “IKEA has been successfully operating in Russia for more than 13 years, and we are glad that our company has become so popular. We have decided increasing the size of warehouse space to secure the efficiency of goods deliveries to our customers in Russia. Logopark North is a unique solution for IKEA which meets our standards and is a perfect addition to the existing Esipovo distribution center in the Moscow region.”

Peter Zaritskiy, National Director, Head of Warehouse & Industrial Department, Jones Lang LaSalle, Russia & CIS: “This transaction is a unique event in the Russian industrial market. All aspects of the deal are very important – both a record volume of leased area and the globally recognized brand involved in the deal. It is interesting to note that IKEA chose a brand-new project to allocate its new distributing center – this additionally highlights the transaction’s exclusivity.

The property’s distinctive features which drove the decision for IKEA were a prime location, high speed of construction as well as a complete adjustment of the property to the strict requirements of the Swedish company. Logopark North is a rare example of an industrial facility which is fully leased prior to the state commissioning.”

Elena Bondarchuk, Managing Partner of Logopark Development: “For us signing the agreement with IKEA is not just the conclusion of a very interesting and complex deal, but an official market recognition of our logistic complex. At the moment, several months before the construction completion, 100% of Logopark Sever area is leased.

In many years of our experience and the implementation of deals with big international companies we have never faced such detailed technical, legal and other checks which were implemented by IKEA specialists. We are very grateful to IKEA’s team for the professional and organized work and to Jones Lang LaSalle for the quality lease of the complex in a record short term.”

Grade-A warehouse complex Logopark North is located on A107 highway (‘Betonka’), 7 km from Leningradskoe highway and close to its alternate road – the new high-speed highway Moscow – St. Petersburg. This location will reduce the drive time to MKAD down to 15-20 min as well as will provide quick and undisturbed access to the Sheremetyevo International Airport.

The total area of Logopark North is 110,000 m². The latest achievements in industrial and logistic development as well as the most efficient space and infrastructure arrangements are implemented in the project. The tenants of the Logopark are a logistic operator GlobalLogisticProjects, retailers Eldorado and IKEA. The delivery of the project is planned for summer 2013.

Source: JLL

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