The main feature of the commercial property market in 2010 is its stabilization, which is somewhat reminiscent of stagnation. Companies "unfreeze" and complete the previously started projects, but will have to wait for the new. Despite some improvement in the investment pattern, significant financial investments, which are expected, market participants did not happen. Nevertheless, despite the fact that the return to pre-crisis level is still far, and the cost is still the main criterion for selection of facilities and services, increasing value for the buyer begins to play for money. Results of the III quarter of the commercial property market recovery prove the market. Office property in the third quarter nominally indicate that the market continues to recover gradually, but still cause for optimism, the most moderate. For the third quarter came on the market still about 240 sq m. quality office space. This figure is almost twice the number of squares entered in the second quarter, however, comparable to last year's volume over the same period. In particular, among the last to go on sale projects include: the last 3 office buildings first stage of Technopark «Nagatino i-Land», BC «Preo 8" at the Transfiguration Square., BC «Marr Plaza», reconstruction of several buildings and Mirland BC etc. In addition, it was announced the resumption of an active marketing campaign of the project "K2 Business Park" on the Kaluga road 2 km (the beginning of the first construction phase of the project is scheduled for spring 2011). Among the high-quality office properties in 2010 entered the market, basically, an object of class A - the proportion was 60%. This relationship can be considered a record for the last two years. We can assume that in the medium term, the gap between the new areas of Class A and B will continue to grow. . By putting such upscale items declared as IFC «Imperia Tower», Phase 2 of IFC's "Capital City" business center "Legend of Color," BC "Battleship," BC «Diamond Hall», IFC "Summit". By the end of the year was announced the commissioning of another order of 400 thousand square meters. m of new office space. If all objects will be put in the time span, the emergence of a number of areas in the market can affect the level of vacant space, and possibly even lead to a drop in rates. During the year, increased the number of transactions in the office segment. In particular, it was announced that BC "Domnikov" will be purchased by two companies: 2 / 3 of the buy-affiliated management company RZD "RWM Capital", and the remaining 26 thousand square meters. m planning to buy Rosbank. This deal illustrates the current trends on the office market, because the building is clearly acquired for its own use and not resale. At the same time, despite the fact that the appearance of several owners of the building will lower class, the owner is ready to go for it. The company Horus Capital is in talks with FC "Opening" of the sale of the last five of its remaining business centers - "Factory Stanislavsky," "Gamma", "Avion", "Horizon" and "Lefort" that are laid on the loan to German Aarealbank (around $ 600 million). Average rental rates during the third quarter of 2010 increased by 5% and will continue to grow at a moderate pace, unless there is a sharp increase in supply. Today the vacancy rate of class A is 18%, B and B + - 17%. It should be noted that the entire year of free high quality area has been reduced, while the occupancy of less quality offices has not changed. Commercial real estate market commercial real estate in the third quarter of 2010, the most actively developed. September saw the opening of the shopping centers "RIO" a total area of 175,000 square meters. m (GLA - 90,000 square meters. m), Reutov, "Marcos Mall" and "key", which opened repeatedly postponed, and a specialized set of "Armada", an area of 130 sq m. Before the year is scheduled to enter another order of 600 thousand square meters. m of retail space, and all that - long-announced and anticipated projects, among which the SEC «Mall of Russia» and "Gagarin". Also recently awakened interest of developers to the format of such real estate as outlet-malls. For example, initiated reconstruction TC "Waymart", which in the first quarter of 2011 will be opened as outlet-center, around the same time, the market should go and Brandcity Outlet Village Belaya Dacha. The total area of conceptual commercial properties in Moscow for the third quarter of 2010 totaled about 6.1 million square feet. m., or more than 250 square meters. m per 1,000 inhabitants. The average sale price of retail space to date - 13 th dollars for the quarter. m, while in the sleeping areas of price sq.m. starts at $ 2,500, and for the most liquid objects can exceed $ 30,000. In many ways, the rise in prices has no objective economic reasons, and due more to subjective feelings of sellers. One of the few investment deals this year in the commercial segment was the acquisition in the third quarter of the investment fund Vi Holding Company Moon Invest in the shopping center "format" of the total area of about 21 000 sq. km. m in Mytishchi. The level of vacant premises in the high-quality shopping capital is 7%. It is worth noting that emerged on the market this year, the objects have no problems with filling. Average rental rates are for the 1500 2000dollarov tenants galleries and 100-300 dollars for the anchor tenants. Among the largest transactions was the rental company Podium 6600 square meters. m on the first floor of the hotel "Moscow". In the main trade corridors level of vacant premises are still in the range of 7 to 10%, and the demand for them has less than a square in the shopping center. At the same time, if two years ago, even in the major trade corridors there was an active rotation of tenants, but now the situation has stabilized again. Average rental rates for space in the segment and for the highest quality facilities and increased range from 700 to 3400 dollars per square meter. m. It can be assumed that the increase in rental rates, which could be seen already in the I half of 2010, will continue. According to our estimates, to stake the rates on major trade corridors can grow up to 20%. It should be noted that if the end of the year, finally, open all the planned large-scale retail facilities, in 2011 uschestvennogo increase in new areas can be expected. Warehouses in the third quarter of this year was put into operation about 40 square meters of quality warehouse space. Thus, the total amount of storage space in Moscow and Moscow at the end of the third quarter of 2010 amounted to about 9 million square meters, of which the share of high-quality warehouses of class A and B accounted for about 6m. square meters. m. By the end of the year 2010 claimed to be commissioned another 350 square meters However, the pace of new construction are quite low. So we can assume that there really is not entered more than 285 sq m. As you can see, the volume of construction will decrease. It is, primarily, on the completion of projects started before the crisis. Among the exceptions - the industrial park "Shmatova" 70 km. From Moscow on the highway M4 "Don", the construction of which commenced MR Group. The project is implemented in the satellite city of low-rise New Stupino. It should be noted that many developers in the third quarter, announced plans to build new stores. In contrast to other segments in the warehouse market in the third quarter activity declined somewhat compared to the first and second quarter. It was bought and rented 120 square meters For comparison, the first two quarters has been absorbed by the order of 290 thousand sq.m. Vacancy rate declined throughout the year and by September reached the target of 8%. The third quarter marked by a number of deals on hotels. So, company "Arkonada" removed 32,500 sq ft of warehouse space in the logistics complex class "A-Terminal" for 5 years. In addition, TNT Express and JSC "Interkompleks" signed a lease for 5 years in a warehouse complex Trinity Lykovo. Rented warehouse area is 10 sq.m and 038.1 846.8 sq.m of office space. Rents throughout the year showed a moderate growth. It can be assumed that the overall growth rate for 2010 will amount to 8-10%. According to recent data, the average rate for Class A warehouse space amounted to about $ 100-105 / sq m / year (excluding VAT and operating expenses). In the class B-80 - 90 $ / sq.m / year (excluding VAT and operating expenses). Traditionally, rents warehouse space close to class A, within Moscow on average 15-20% higher than in the Moscow region, class, B - 10-12%. Average sales price - from 1000 to 1500 dollars. On the warehouse market is still in demand in particular small area (5,000 sq.m). However, the vacancy rate decreases. Due to the difficulties in finding the most attractive financing scheme for developers building today is built to suite. Natalia Gurkin, MC "Fragra»
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