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The Russian developer PNK Group and Danish logistics operator Uhrenholt Logistics have agreed to build a specialized multi-temperature Class A warehouse as part of the PNK Chekhov warehouse complex.
The signing ceremony was held on March 16, 2010 at the Danish Embassy in Moscow in the presence of the Ambassador of Denmark to the Russian Federation. Total area of warehouse and ancillary premises for storage of food products will be 12,960 sq m. The lease agreement with PNK Group is for 15 years. Planned commissioning date is December 2010. Knight Frank, the international property consulting specialist, was consultant to the deal.
Yury Demin, Managing Director of Uhrenholt Logistics:
“Our company has spent several years searching for a ready-to-use, temperature-controlled warehouse, that could meet our high standards and requirements. There are very few warehouse facilities in Moscow Region that combine premises with different temperature regimes (from deep refrigeration to cold storage and dry warehousing). We chose PNK Group because it is a dependable developer with experience in construction of high-quality Class A warehouses.”
Oleg Mamaev, Executive Director of PNK Group:
“We are glad that our negotiations with Uhrenholt Logistics have had this successful outcome and that we have been able to sign one of the biggest built-to-suit contracts in Russia. We value the fact that our partner is an experienced international company, with exacting demands for the warehouse product, which is to be created. The project is for construction of a high-tech, modern, multi-temperature warehouse complex with low electricity requirements.”
As pointed out by Konstantin Fomichenko, Deputy Director of the Warehouse and Industrial Department at Knight Frank, this will be the first built-to-suit deal on the Russian market with involvement of a Western logistics operator. The agreement with Uhrenholt Logistics is unique because it is the first time that a multi-temperature warehouse will be built from scratch in a project tailored to meet all of the tenant’s requirements, instead of the more usual Russian practice of modernising existing buildings or creating extensions.
PNK Chekhov is one of the biggest Class A projects in Moscow Region and is located on Simferopol Highway, 50 km from MKAD (the Moscow Ring Road), immediately adjacent to the M-2 and A-107 federal road arteries. Total area of the complex is 400,000 sq m. The first stage of the complex with area of 140,000 sq m was brought into use in 2009
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