A new 56,200 sq m Class A business center located on the first kilometer of the Rublevo-Uspeskoe Highway has been put on the market. The project is being financed and developed by ZAO Ferro-Stroy, a well known developer in the Russian commercial and residential real estate markets, with MEBE Construction acting as the general contractor. Knight Frank and Cushman and Wakefield, both international consultancies, are instructed to handle the sale of the property.
The construction of the property began in June 2011 and the delivery of the complex is scheduled for Q2 2014.
Located at the intersection of Rublevskoe Highway and the MKAD, the business center has fantastic transport accessibility due to the recent enlargement of the Rublevskoe Highway, the construction of the southern bypass and northwestern span, which are free of traffic lights.
The minimalist design of Pallau RB allows it to organically blend in to the surrounding environment. The architect for the project was the globally renowned firm Sergei Kiselev and Partners, whose past works include Vivaldi Plaza and Mirax Plaza. Pallau RB is not just a business center, but a true "objet d’art". Its clean and transparent architecture implies open plan spaces, to fit all prospective tenants and accommodate their personal preferences. A wide column grid (8.4-8.1m) allows the implementation of the boldest interior design solutions.
The complex also includes a five floor underground parking lot, totaling 9,700 sq m providing 548 spaces. The building is equipped with the latest engineering systems installed by world market leaders Trane, Honeywell and VTS Clima.
Grigoriy Vaulin, General Director, ZAO “Ferro-Stroy”: “Several new projects have been announced in the west of Moscow but almost none of them have broken ground, especially not ones that can be compared to the quality of design and location of ours. The developers were waiting for favourable market conditions. Over the past three years, we’ve seen a moderate upward trend in rental growth. Sale transactions involving finished buildings have been taking place in the market, and many are now considering developing offices. Hence in 2014 the supply of buildings of this level will be minimal, which gives us hope for successful realization of our project.”
Mihail Mindlin, Head of Offices, Cushman and Wakefield: “There is a lot of potential in the Rublevskoe-Uspeskoe Highway direction, but at the moment the lack of quality office space is sharply felt. Which is why, despite the fact the project is not finished; we are already receiving strong interest from the market. I am sure that as the project draws closer to completion, the interest will intensify and materialize into a concrete deal.”
Andrey Petrov, Partner, Deputy General Director, Knight Frank Russia & CIS: “The success of Pallau RB is guaranteed due to a synergy of several factors. Firstly, there is an incredibly strong project team: a developer with many years of experience of projects in the Moscow market, a high quality and reliable contractor, who built a large number of both residential and commercial buildings in difficult conditions, such as the historic center of Moscow, and an architect who created a functional concept for the building, which allows it to realize various business aims of the end user. Secondly, it’s the unique location at the intersection of Rublevskoe Highway and the MKAD, where the vast majority of the Forbes Top 200 (or their families) live. I.e. a conglomeration of highly successful people with exquisite taste who demand the highest quality and who are seen as the prospective target audience for this project. Thirdly, a good situation in terms of local competition, or more accurately lack of it, given the interest for the direction. Due to the above and the ongoing construction, the project has high investment potential, and we fully expect the current interest to materialize into an actual offer.”