International advisors will tackle the brokerage of the shopping mall on Kutuzovsky Avenue and another one on Khoroshevskoe shosse in Moscow.
The development company TPS Real Estate appointed international consultancies Cushman & Wakefield and Knight Frank as co-exclusive brokerage agents for letting the retail space in the shopping and leisure center on Kutuzovsky Avenue (GBA – 137,000 sq m; GLA – 60,000 sq m) and another shopping and leisure center on Khoroshevskoe shosse (GBA – 114,000 sq m; GLA – 50,000 sq m). Both projects are under rapid development.
The retail center on Kutuzovsky Avenue sits on one of the most important thruways of the capital city, near subway station Slavyansky Boulevard. The project concept anticipates a 3,100-sqm grocery supermarket, multi-screen cinema with a 5,000-sqm premiere hall, home appliances and electronics store, baby and kids’ stores, a shopping gallery featuring 200 shops of leading national and international brands, as well as a spacious zone of restaurants with nice window views, cafes and a food court. The shopping mall has underground parking space with 1,100 vehicle slots. The mall’s catchment area nears 2 million people. The daily passenger traffic at Slavyansky Boulevard subway station is 45,500 people.
The shopping mall on Khoroshevskoe shosse sits several steps away from Polezhaevskaya subway stop. The concept is pivoted on a 3,100-sqm grocery supermarket, other anchors being a multi-screen movie theatre, home appliances and electronics store, kids stuff supermarket, shopping arcade hosting more than 200 shops of well-known brands trading in garments, shoes and accessories, as well as a fitness center, restaurant zone, food court, etc. The underground parking garage is designed for 800 automobiles. Residing in the catchment area of the shopping mall now are about 1.3 million people. The plan calls for the construction of Khoroshevskaya subway stop of the Third Interchange Circuit of Moscow Metro – less than 100 meters away from the mall.
Alexei Chinaliev, First Vice President for Commercial Management, TPS Real Estate, notes: “We are confident that our collaboration with experienced international brokers Cushman & Wakefield and Knight Frank will be successful and through joint effort we’ll succeed in creating unique retail properties with customer-friendly infrastructure.”
Yulia Sokolova, Brokerage Director at Knight Frank, adds: “The project team’s experience and quality of the works performed can make new retail properties competitive in today’s challenging market. Knight Frank and TPS Real Estate boast many years of successful experience in the joint delivery of projects in Russian regions. I am positive that we’ll succeed in implementing quality retail projects in Moscow as well, which will be in demand on the market and among potential shoppers, thanks to a properly selected tenant mix, balanced concept and successful architectural solutions.”
Maxim Karbasnikoff, Partner and Head of Retail at Cushman & Wakefield, comments: “TPS Real Estate is one of the most experienced and skilled developers on the Russian market. The company also successfully manages a number of functional projects. The shopping malls on Khoroshevskoe shosse and Kutuzovsky Avenue are the new retail projects that will showcase the innovative approach of TPS Real Estate and its absolutely new architectural outlook. It’s a great pleasure for us to get involved in the project that will offer a new quality format to visitors and retailers.”