JLL announces closing of two deals in Moscow (RU)

Jones Lang LaSalle has announced two recent deals which the Tenant Representation Team of the company has successfully closed in Moscow, Russia.

Sandoz Russia company
Moscow Tenant Representation successfully completed a leasehold transaction for the Sandoz Russia company in a class-A business center Capital City, located in Moscow City.

Upon the tender's results Sandoz, a leading pharmacy company, has appointed the Moscow Tenant Representation team to assist with searching and leasing of quality office premises in Moscow.

The project consisted in implementation of a long-term consolidation strategy within the definite budget for lease by means of leasehold acquisition of required area in Capital City.

The preliminary lease was signed in September, 2008 for Sandoz to relocate in 2009. The Moscow team conducted a complex market search and analysis exercise to identify an ideal property to match Sandoz's expectations and requirements.

Upon the tender results Jones Lang LaSalle Project Management is currently managing Sandoz fit out project.

Confidential West-European Bank
Moscow Tenant Representation completed a leasehold transaction of 5,600-m² for Confidential West-European Bank (one of the major international banks operating in Russia).

The project consisted of the identification, comparison and negotiation of the lease agreement for the best available property meeting Confidential West-European Bank's special technical and legal requirements.

This new office facility would allow the client to relocate their call center and processing center into a new Class-B building.

Andrey Postnikov, European Director, Russia and CIS, Head of Corporate Solutions, Jones Lang LaSalle, comments: "We are glad to say that despite the developing financial crisis, companies and banks working in Russia are continuing with their real estate projects. As the changing real estate market offers occupiers new opportunities, new risks are appearing as well. This opens new challenges for our Tenant Representation team, as they work to create more detailed strategies and make more demands on developers in negotiating and signing leases."

Source: Jones Lang LaSalle

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