Record deal in the St. Petersburg office property market (RU)

Desna Development and international real estate consultant Colliers International proudly announce the successful closing of the largest leasing deal in the office property market of St. Petersburg. Colliers International acted as consultants and brokers for Desna Development to lease 10,000 m² premises for investment bank KIT Finance in Renaissance Plaza, a new class A office complex which will open its gates in December 2007.

Renaissance Plaza is located in the center of city at 69/71 Marata Street, within easy walking distance to the Metro stations Pushkinskaya and Dostoevskaya. The complex consists of three buildings with a total area of 32,000 m². Construction of the project was undertaken by one of the largest and most dynamic international companies active in St. Petersburg, Renaissance Construction (ranked 61st in the world's Top 225 International Contractors).

KIT Finance will fully occupy the 8-storey office block 'B'. According to KIT Finance, the main arguments for choosing Renaissance Plaza were the superbly convenient location in the center of the city and the quality of the project that embodies the highest standards of new modern office planning and construction. This is, indeed, one of the very few newly constructed office projects in the historical part of the city. Compared with competing renovated projects, it has much better potential to organize open space and provide state-of-the art engineering systems and communication technologies.

"This is the record deal in the office property market in St. Petersburg. Before it the largest deals were 6,000 m² and in class B property. The 10,000 m² lease by a single tenant, KIT Finance, is a remarkable event, and we expect it will underscore that in future more and more businesses will be concentrated in new modern business-centers", - said Kyle Patching, Office Director of Colliers International.

Source: Colliers International

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