Colliers International has announced signing lease agreements with anchor tenants: food hypermarket Karusel and consumer electronics hypermarket Eldorado, for premises in the M5 Mall shopping and entertainment center in Ryazan. Karusel will occupy around 10,000 m², and Eldorado approximately 3,000 m².
M5 Mall is located at the intersection of major city and regional thoroughfares, Okruzhnaya Road and Moskovskoye Shosse, 190 km from Moscow. Its catchment area includes around half a million people, or over 40% of the residents of Ryazan and the Ryazan Region.
In addition to Karusel hypermarket and Eldorado consumer electronics hypermarket, the shopping center will accommodate anchor tenants of most demanded formats, including a DIY store, a sports goods hypermarket and others. The shopping gallery will offer customers a broad range of various goods and services. M5 Mall will also include various entertainment facilities: a multi-screen cinema, cafés and restaurants. For visitors' convenience, free-of-charge shuttle buses will be provided for, as well as a spacious parking lot for 2,500 cars.
The M5 Mall shopping and entertainment center will open in Q3 2011.
The project's developer is PPF Group. The exclusive marketing and leasing consultant is international consulting company Colliers International.
Karel Vavruska, Director for Real Estate Development in Russia, PPF Group: "In the current market situation, signing lease agreements with the key anchors practically a year prior to the shopping and entertainment center's opening guarantees successful relationships with other tenants. Despite all the difficulties of the past two years and the changes in the retail real estate market, we are sure that quality state-of-the-art shopping centers in Russia's regional cities are still of great interest for international and federal retail chains. We are glad to announce that our partners are such professional retail market players as Karusel and Eldorado, whom we expect to cooperate with in other projects of our company."
Galina Maliborskaya, Director, Retail Property Department Colliers International: "We are especially pleased to announce the signing of lease agreements with such operators as Karusel and Eldorado. First, these deals are the first in the series of agreements with anchor tenants of the complex, which are now in the final stage of negotiations. Second, the launched active leasing campaign for a large retail property in the region is another proof of the renewed regional expansion of federal retailers. Retailers' interest in the M5 Мall project is naturally determined: the project is expected to be a worthy one. The property has a quality commercial concept, and negotiations with a pool of best international and Russian retail operators are currently underway. The project is being developed by a profes