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districts are the most demanded. The territory of the future socio-business complex "Okhta-center" is becoming perspective. The demand for “A”-class business centers is created by large Russian companies and representations of foreign structures. They are usually more interested in the site, the characteristics of the building and the level of service than in the rent rate. In “A”-class business centers the companies prefer to rent either rather small, up to 50 sq. m., offices (in representation purposes), or premises with the area of more than 1 thousand sq. m. – for the head offices. However, “B” and “B+”-class business centers, especially recently constructed objects with a free lay-out of premises and a good engineering infrastructure, are the most popular. New “B”-class office premises can seriously compete with “elite” ones. Today there are only 1 – 2% free premises in “A”-class objects. Many leaseholders are eager to expand their territories, but they have no opportunity to do it. Such leaseholders usually move to “B+”-class objects. Moreover, in such centers the premises are often sold even at the stage of construction. The businessmen are mostly interested in the offices with the area of 100 – 300 sq. m. And in the majority of cases they are bought with the purpose not to invest money, but to use them. The rent rates for “A”-class office premises are $500 - 940 per a square meter a year. In “B” and “B+”-class business centers the rent is $300 - 580 per a square meter a year. Free areas in “A” and “B”-class office centers are no more than 4-6 % of the total area of the building. And the business-centers under construction are practically completely provided with leaseholders even before the end of the construction works76. “B”-class premises are mostly demanded by foreign companies requiring small offices. Besides, such objects are rented by Russian middle-sized companies. The premises with the total area of 200 – 500 sq. m. are the most demanded in this sector. And it is this sector where the lack of offers is observed. Besides, more and more often large companies – banks, raw holdings, insurance and IT companies – demand larger (about 1,000 sq. m.) areas, as a rule, it is the whole floor in a business center. “C”-class objects (usually they are reorientated and reconstructed buildings of former scientific research institutes and factories), remaining the most numerous, nevertheless, lose their popularity within leaseholders. Warehouse real estate In St. Petersburg the area of introduced warehouses increased 4 times in 2008 – up to 600 thousand sq. m. a year77. The total area of warehouses in St. Petersburg and Leningrad region today is 2 – 2,5 million sq. m. During the period January – April 2007 the volume of the warehouse areas market increased in 7.6 %78. But, however, it cannot satisfy the rapidly increasing demand. In particular, the company Onninen has finished the construction of a logistical complex with the area of 8 thousand sq. m. in the settlement Zanevka. The transportation and warehouse terminal "Ruslan" with the area of 14.8 thousand sq. m. has been introduced. Thus, the total area of “A” and “B”-class warehouses is nowadays about 330 sq. m. The premises with the area of 500 – 20,000 sq. m. remain the most demanded. This demand is formed by logistical operators, and also large Russian and international trading networks. The most perspective for location of warehouses are the territories in the southern part of St. Petersburg, near the Moskovskoye highway. The most important criteria while choosing the location of the warehouse is being close to the Circular motorway. The rent rates for “A”-classs warehouses are $125 – 130 per a square meter. As to “B”-class objects, the rent rates for them fluctuate within the limits of $100 – 115 per a square meter. 76


According to “Real Estate Bulletin” (

According to the company Knight Frank ( The review of the commercial real estate market of the first quarter of 2007. 78

According to the company Colliers International. The information from the site “Real Estate Bulletin”. 112  

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