Colliers International, the exclusive marketing and leasing agent for M5Mall shopping and entertainment center located in Ryazan, announces lease agreements with leading international and Russian retail operators.
Overall, over 70% of M5Mall shopping and entertainment center's gallery will be represented by brands new to the Ryazan market, which will allow creating an attractive and sustainable project concept that will be in demand in the long term.
At the end of 2010, lease agreements were signed with the following anchor tenants: Karusel food hypermarket (10,000 m²) and Eldorado appliances and electronics hypermarket (3,000 m²).
The total area of M5 Mall shopping and entertainment center is 81,500 m², while the gross leasable area (GLA) is 66,000 m². M5 Mall shopping and entertainment center will be the largest retail property in Ryazan and the Ryazan Region, as well as the only shopping and entertainment center in the region adhering to modern international standards. M5Mall is located 190 km from Moscow, at the intersection of major traffic arteries of the city and the region Okruzhnaya Doroga and Moskovskoye Shosse. Its catchment area covers about half a million people, which is over 40% of the population of Ryazan and the Ryazan Region.
M5Mall shopping and entertainment center will open at the end of September 2011.
PPF Real Estate Russia is the developer of the project. Colliers International, an international consulting company, is the exclusive marketing and leasing consultant.
Karel Vavruska, Director for Real Estate Development in Russia, PPF Real Estate Russia: "M5Mall construction and filling the shopping center with tenants are proceeding at full speed. We are glad that the strongest players in the Russian retail market are becoming our partners within the scope of this project. M5Mall will open at the end of September 2011, and we will be glad to offer our customers something new and unique."
Galina Maliborskaya, Director, Retail Property Department, Colliers International: "We are pleased to recognize that M5Mall shopping and entertainment center will become not only the largest shopping and entertainment center in Ryazan, but also a true shopping destination for city dwellers. Residents of Ryazan will no longer have to travel to Moscow to make their purchases, as they will be able to find the broadest selection of goods and services, including best international and national brands, at M5Mall. Our objective, as a consultant, is to create, jointly with the project's developer, a unique pool of tenants that will be represented in the Ryazan market for the first time."