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CBRE reports 10 % vacancy in the second phase of a new discount center located in the central Moscow

CBRE the exclusive consultant of the second phase of a new discount center located in the central Moscow, "Ordzhonikidze 11", announces 90% occupancy as of today.

Discount center "Ordzhonikidze 11" is located in the center of Moscow, near "Leninsky Prospekt" metro station. This is the only and most commercially successful project in this segment, located within the Moscow Third Transport Ring Road. The developer of the project is Discount Center, LLC.

CBRE attracted not only the well-known outlet concepts into the second phase of this new discount center, but also the new brands that had not been previously presented in this format in Russia. Over the past three months STOCKMANN OUTLET, which will occupy over 600 square meters, DrKoffer, Levi's, Timberland, New Balance, Gualtiero, Geox, Semplice pizza, Lusio,  and many others leased the premises in the second phase of discount center "Ordzhonikidze 11" with the help of CBRE.

Alexandra Chirkaeva, Head of Moscow Retail Leasing, Moscow Retail Department, CBRE, said: “The project "Ordzhonikidze 11" is unique for its location inside the Third Transport Ring Road and the fact that it has established flows of loyal visitors (about 500 000 people a month in the first phase. It’s location in the city center makes it busy with customers equally during the weekdays and on weekends. We see that the active development of outlets is one of the main trends today in Russia and around the world. According to CBRE, the conversion in outlets is 90%, verses 20-60%, on average, in classic shopping centers, which is one of the main factors of their success and high interest in this format, coming from retailers. Our team has  attracted new, mainly premium, operators to the project which are the best in their segments and by November 2018 the second phase of "Ordzhonikidze 11" will be 100% leased.”