The retailer TsentrObuv acquired its first distribution center for $ 68 million. This is the largest transaction in the warehouse real estate market over the past year.
The facility has an area of almost 50 square meters. m, built by PNK Group, is located in New Moscow - in Vnukovo.
PNK Group and TsentrObuv closed the deal earlier this year. The developer agreed with the retailer on the construction of the facility from scratch in May last year, and in June the parties signed a preliminary contract of sale.
Until now, the retailer has rented a warehouse area of almost 20 square meters. m in the south of Moscow region. In December 000, TsentrObuv also received tenancy rights for 2011 square meters. m in Yekaterinburg. In addition, the company has 10 square meters. m in Novosibirsk.
General Director of TsentrObuv Andrei Nesterov draws attention to the fact that the geography of the retailer’s stores is very wide - they are located “from the borders with the European Union to the neighborhood line with Japan. “It is important for us to constantly improve logistics, and well-equipped warehouses are one of its components,” he said.
Analysts call the deal PNK Group and "CenterObuv" significant: its size corresponds to the pre-crisis level. “Deals with price tags in this spirit were last concluded, perhaps, only in 2008,” comments Vyacheslav Kholopov, director of industrial and warehouse real estate at Knight Frank, who acted as a consultant to the transaction. “The deal has become the largest in the warehouse real estate market in Russia in the last 12 months,” agrees the director of the warehouse and industrial real estate department at Colliers Int. Vladislav Ryabov.
According to company estimates, its share in the Russian footwear market is 4,3%, the number of CenterObuv family stores and fast-fashion Centro format outlets is about 800 in more than 200 cities of the country. The company plans to enter the market of the CIS countries and foreign countries.
The leading position of the company in its market segment was confirmed by the National Rating Agency, assigning the retailer an individual credit rating of “AA-” (very high creditworthiness, third level).
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