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Office

• 03.18.08
  Minority Concessionaires
  Office (0)

  Two mega-projects intended to modify the St. Petersburg office market will be launched in 2008. The process is underway for the selection of concessionaires for the construction of the Western Speedway Diameter (WSD) and Orlovsky tunnel. In contrast to the KAD (Ring Road), financed from the government funds with all ensuing consequences, WSD and Orlovsky tunnel will probably exemplify a new approach. This is why the districts alongside the future routes are already rousing the keen interest of those who build class A business centers. Continue Reading...
  
  
• 03.18.08
  The Anchor Effect
  Office (1)

  In movie land, fraudsters always manage to rent a plush office on Wall Street for their machinations. In real life, however, Western business center owners are very careful about whom they rent their precious square meters to. This particularly applies to anchor tenants who can decide the fate of an entire complex. In Russia anchors can even affect the status and capitalization rate of a project. At the same there is no unified standard for selecting and working with anchor tenants. Some building owners are willing to offer serious incentives to the right kind of firm while others rent out ...
  
  
• 03.18.08
  A World of its Own
  Office (0)

  Nowadays a lot of companies are opting to divide their offices into front and back office areas. Front offices are like corporate stages designed to impress clients, set the right tone and provide the perfect environment for closing deals and making sales. Back offices, on the other hand, are hidden from view and are the 'beehives' where the internal business processes are operated. Back offices provide the support required for the front office to function smoothly. Continue Reading...
  
  
• 03.18.08
  Quality Offices for the Picking
  Office (0)

  Cautious Ural developers prefer to build class B offices, since the investment is less risky and the return quicker. Also, given that most expenses go toward acquiring land and registering approvals, developers prefer not to concern themselves with the requirements for class A, preferring to build class B which the market demands. Furthermore, the ambiguity of the classification adds to the confusion. Developers do not consider this a major problem, because, under a bad shortage of offices, the market will absorb anything. Continue Reading...
  
  
• 03.18.08
  The Quest for Fitness
  Office (0)

  The cheapest of these tenants offer only warehouses, some even without heating. They prefer to engage themselves early in the project, require lots of energy, water, and air, and – as a rule – want their own entrance and exit. Their visitors occupy spots in the parking lot for two or even four hours, and often come at night. These tenants also require two thousand square meters of floor space, though it doesn’t have to be the nicest. The representatives for this sort of tenant always proudly refer to themselves as potential anchors for any shopping center or office complex, ...
  
  
• 03.18.08
  Bankers Seek Place in the Sun
  Office (0)

  Although bankers have been actively developing the branches of their divisions in St. Petersburg for more than three years already, their demand for new premises, especially in the central areas, continues to grow. Whereas banks previously sought offices mostly for their branches, last year many of them decided to change the location of their head offices. Indeed, there is a very sharp increase in transfers, reconstruction of old and the construction of new buildings for banks’ purposes. Also, most of the financiers queried by CRE did not call the situation on the banking real estate market as being a sharp ...
  
  
• 03.18.08
  Adding Comfort and Convenience
  Office (0)

  The provision of additional tenant services in business centers has become increasingly important. However not all real estate owners have not yet woken up to the long term benefits and social implications of providing a well balanced infrastructure. Continue Reading...
  
  

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