The O’KEY hypermarket chain, one of the largest Russian retailers, and warehouse property developer PNK Group have signed a long-term lease agreement at the Grade A+ logistics park PNK-KAD, located in the Leningrad Region. The total leasable area of the new distribution centre will be 24,000 m² and the lease term is five years. The O’KEY chain chose the PNK-KAD logistics park as the most efficient solution within the framework of creating its logistics infrastructure. O’KEY will invest €2.3 mln (168 mln rubles) in the project.
Colliers International represented the developer and acted as its exclusive agent and advised on the transaction.
O’KEY is currently implementing a new strategy to develop its logistics infrastructure and the PNK-KAD lease was the second project completed in cooperation with PNK Group, the market leader in warehouse and industrial real estate. It was important for O’KEY to continue cooperation with its trusted partner, which specialises in construction of Grade A+ logistics facilities for food retail chains. First such project was carried out in Novosibirsk, where PNK Group has fulfilled all of O’KEY’s quality and requirements that allowed the retailer to improve its logistics infrastructure in the region.
The decision to create the largest regional distribution centre in the northwest region stems from O’KEY’s plan to restructure its logistics system, beginning with its core market in the northwest (St. Petersburg). The new distribution centre is situated in a strategically important southern location and will serve outlets in the region. The distribution centre is scheduled to open in Q4 2015 and will be the first step in forming an efficient distribution chain for O’KEY hypermarkets.
O’KEY is planning to expand and strengthen its own logistics infrastructure, hence, their first priority is to open additional stores and meet the needs of its growing business in various regions of Russia.
PNK-KAD is the most modern and high-quality facility of its kind in the Northwest region and meets all requirements for Grade A+ industrial parks. The logistics park has a total area of about 65,000 m², located on Sofiyskaya Ulitsa, 1.5 km away from the Ring Road and 11 km from the St. Petersburg city centre. The complex was built using advanced German technology, providing high quality of construction.
Source: Colliers
