Within the framework of regional expansion, X5 Retail Group, Russia's largest retailer by sales volume, has leased 16,000 m² of warehouse premises in Volzhsky Industrial Park in Nizhny Novgorod.
The leased area will help optimize warehouse logistics of the retailer due to high quality characteristics and winning location of the warehouse. The distribution center of the company will be located in the leased area, which will meet the requirements of the sales outlets all over the Nizhny Novgorod region.
The lease agreement in concluded for five years. Colliers International acted as the consultants of the deal.
Volzhsky Industrial Park with gross building area of 180,000 m² is one of the largest and the only full-fledged class-A industrial park project, realized in Nizhny Novgorod region at the moment.
It is an integrated industrial park for manufacturers and distributors on the square of 33 ha. This park offers clients secured territory, good infrastructure, sufficient electricity power as well as access to recently opened customs terminal.
This complex is situated in Kstovskiy district, to the south from Nizhny Novgorod, on the federal highway M7- strategic transport way, which connects Moscow with Nizhny Novgorod, Kazan and other eastern regional centers.
The project is realized by a team of professionals with an extensive experience in construction and real estate investments: funding is made by the project's investor, American investment fund Amstar Global Partners, together with the European Bank for Reconstruction and Development (EBRD), the developer is Griffin Partners. The project has a status of 'high priority' in Nizhny Novgorod region and has a personal support of the governor Valery Pavlinovich Shantsev.
Oleg Gusakov, Partner at Griffin Partners: "The appearance of such major tenant, as X5 Retail Group in our complex, automatically increases the investment appeal of the project and confirms the chosen strategy of development.
"Nowadays tenants of our complex are the leading Russian and international companies, which qualitively supplement the business community in the region, and also make good contribution to the development of Nizhny Novgorod, one of the largest centers of industry and manufacturing in the central part of Russia".
Vladislav Ryabov, Director, Industrial Property Department Colliers International: "This is a landmark deal for the Nizhny Novgorod market, recently it is the largest one with high-quality warehouse space. Such deals emphasize the continued active development of federal retailers in regions of Russia."
Source: Colliers International
