Last year St. Petersburg reached an all-time record of placing warehousing facilities into operation. Total space of 150 000 square meters of warehousing facilities has been placed into operation in St. Petersburg during the last year, which is the highest record in the last four years. However, by the middle of the year, there were not vacant class A facilities left. The same tendency might be observed in 2014, even though over 200 000 square meters of warehousing properties have already been placed into operation.

ЧИТАТЬ ПОЛНОСТЬЮ

Slow, yet steady increase in the warehousing lease rates in St. Petersburg during the last year did not affect the demand on high quality facilities. Warehousing complexes under construction are almost fully occupied by tenants who sign lease agreements in advance. So far, no new projects are announced. Developers are being cautious due to relatively low returns on warehousing property.

Warehousing situation in St. Petersburg will improve if several big warehousing properties in different parts of the city are going to be constructed to meet the tenants' demand. During the last year, warehousing vacancy rate was lower than ever. The demand remains to be high, which forces tenants to occupy low-class facilities.

Built-to-suit format remains an ideal solution on the warehousing market, both for the developers and the tenants. First built-to-suit projects were constructed in Russia before the crisis. Built-to-suit format, meeting the customer's requirements and presupposing long-term rent, satisfies all the participants. Another beneficial solution, smear to built-to-suit construction, is an immediate adaptation of the constructed property to each tenant's business needs. It can deal with both high quality and low quality facilities. This format meets market requirements and makes it possible to fill in the gaps.

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