Knight Frank finds large tenant for MLP Podolsk

Knight Frank has announced closure of a large lease deal at the Class A warehouse complex, MLP-Podolsk

In September 2009 the development company, MLP closed a direct lease agreement with the logistics operator, PRV Group, which has rented 30,000 sq m of space at the first stage of the MLP-Podolsk warehouse complex. The lease is for five years. The international real estate company, Knight Frank, acted as consultant to the owner and to the lessee. Vyacheslav Kholopov, Director of Knight Frank’s Warehouse Department, said that the agreements with PRV Group were obtained despite crisis conditions on the market, which have persuaded most companies in the logistics sector to reduce volumes of rented premises.

Terms and scale of the lease deal with PRV Group at MLP-Podolsk make it one of the largest uptakes of warehouse property on the Russian market in the first nine months of 2009.

“The market is gradually recovering after stagnation in the first and second quarters of 2009 and we expect the fourth quarter to bring further increase in deal numbers and growth of demand for quality warehouse premises from successfully developing Russian and western companies,” Vyacheslav Kholopov said.

The business expansion by PRV Group, which has provided logistics and distribution services on the Russian market since 1997 and has branches in Voronezh, Lipetsk, Kaluga and Tver, will enable the Group to provide similar services on the Moscow market.

PRV Group will use its first 30,000 sq m of warehouse space in Moscow region for storage of alcoholic drinks.

MLP-Podolsk is the second project implemented in Moscow region by the development company MLP. The first stage of the complex with 114,053 sq m of space was commissioned in August 2007.

MLP-Podolsk is located 14 km from the Moscow orbital road (MKAD) and 10 km from the outer orbital road. The complex is directly adjacent to Simferopol Highway and 10 km from Domodedovo, which is Moscow’s second largest freight airport.