Image: CBRE
Development

News from Moscow – “Ordzhonikidze 11” Second Phase

CBRE, the exclusive consultant of the second phase of the new “Ordzhonikidze 11” discount center, has recently announced 90% occupancy.

The scheme is located in the center of Moscow, near “Leninsky Prospekt” metro station. This is the only project in this segment, located within the Russian Capital’s Third Transport Ring Road. The developer of the project is Discount Center, LLC.

CBRE has attracted well-known outlet concepts to participate in the second phase of this new discount center as well as new brands that had not previously been presented in this format in Russia. Over the last months, Stockmans Outlet, which will occupy over 600 sq m, DrKoffer, Levi’s, Timberland, New Balance, Gualtiero, Geox, Semplice, Lusio, and many others have leased premises at “Ordzhonikidze 11”.

Alexandra Chirkaeva, Head of Moscow Retail Leasing, Moscow Retail Department, CBRE, said: “The Ordzhonikidze 11 project is unique due to its location inside the Third Transport Ring Road as well as the fact that it has established flows of loyal visitors, approximately 500,000 people per month, during the first phase. Its location in the city center makes it equally popular with customers on weekdays as well as on weekends. We recognize that the active development of outlets is one of the main trends in Russia and around the world today. According to CBRE, conversion at outlets is 90%, versus 20-60%, on average, at classic shopping centers, which is one of the main factors of their success and the reason for high retailer interest in this format.”

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Development MORE

Starting Shot in Changsha

Ingka Centres ramps up investment in China with new mixed-use projects. This will cost the company €2 billion.

Mipim: Projects Everywhere You Look

Once again, real estate developments will be presented and advertised in Cannes this year. Many of them will feature retail space. Here is an overview of this year’s event.

Shopping and Skiing

SevenCapital is developing North Star Village in Swindon. The Shopping & Leisure Project includes one of the United Kingdom's largest ski and snow centers.

An Oskar for Osnabrück

New shopping center projects in Europe have been scarce in recent years. The Unibail-Rodamco-Westfield Group has bucked this trend and is currently developing “Oskar”, an inner-city shopping center in Osnabrück, Germany.

Shopping Mall WEZ receives a contemporary revamp by BEHF Architects

Built in the 1970s, the shopping mall WEZ – Das weststeirische Einkaufszentrum in Bärnbach near Graz is an example of the first generation of malls in Austria.

“Additional Acquisitions under Consideration”

Dietmar Reindl, COO of IMMOFINANZ, gives an interview regarding the road to becoming Europe's leading retail park operator and the challenge of online retailing”.