Lotte, a 22 floor business center with the total area of 58 860 sq m has been delivered in southwestern Moscow. This second major project by a South Korean developer in the Russian capital will be successful according to real estate market experts. Knight Frank and Cushman & Wakefield are the co-exclusive leasing consultants of the complex.
The building is located within a walking distance from Kaluzhskaya Metro station and is right next to the major city transport arteries. It is also in a favorable travel location to Vnukovo and Domodedovo International Airports. The strong classical frame of the building makes it stand out among the neighborhood architecture, while its carefully planned high-tech open floor layouts will make it a comfortable location to conduct business. This way, BC Lotte will become an integral part of the business cluster that is actively being developed in Southwestern Moscow.
The first three floors of the building will be retail area of around 9620 sq m while the office area will take 38480 sq m from 4th to 21st floor. In addition, office floors will contain a cultural center, retail galleries, restaurant, café, dining room, bank, and dry cleaning. Technical characteristics of the building meet all modern engineering requirements and standards.
Nicola Obajdin, Director, Offices,Knight Frank Russia & CIS, commented: “The office market is seeing continuing process of decentralization. Potential tenants are interested in quality buildings constructed by a professional developer, conveniently accessible by transport, and having professional management. BC Lotte has all the listed characteristics. Besides that, tenants are attracted by the advanced infrastructure of the complex, quality office spaces, options to remodel the premises according to tenant demands, and competitive rate terms. In the near future, the business center will be occupied by well known international and Russian companies.”
Ludmila Mamedova, senior consultant of office real estate group at Cushman & Wakefield, stated: “According to Cushman & Wakefield, the business district in Southwestern Moscow has had 1.4 million sq m of quality office space built and 229,000 sq m were rented out in the past year. That is a record year since 2005. Tenant interest towards the neighborhood remains high, just in the first quarter of 2013 another 74,974 sq m were rented out. The demand in regard to BC Lotte was seen even during its construction when 2 pre-lease contracts were signed. I am confident that with acquired permission to open for business, the process of leasing will reach a new level and the building will be fully rented out by the end of the year.”