In 2018, the offices were mainly rented by representatives of online trading retailers, consultants say. Previously, the main tenants were banks.
For the first time in the history of the Moscow commercial real estate market, retail companies have become the main tenants of office premises: their share increased from 7% in 2017 to 15% in 2018.
The volume of office space leased by retailers has increased two to three times compared with the level of the previous five years and reached 70 thousand square meters. This volume is 70% formed by companies – representatives of online trading retailers (Ozon, Lamoda, Wildberries, Utkonos).
The second place after the retailers are the company providing services: according to the last year results, they accounted for 14% of all rented space in the capital’s business centers. Over the past four years, their share has not changed at all, according to Colliers
“Now we are seeing significant changes. For comparison: in 2017, the volume of office space rental transactions was formed mainly by banking sector companies (22%), IT companies (18%), and professional services companies (14%)”, according to the regional director of corporate clients and office real estate Colliers International Vera Zimenkova.
Last year 2018 was a record year for the Moscow office market. According to the company CBRE, the volume of transactions on the lease and purchase of offices in 2018 amounted to 1.45 million square meters, this is the maximum for the last ten years. At the same time, the volume of annual net absorption decreased by 150 thousand square meters and amounted to 525 thousand square meters. Analysts attribute this to the fact that most companies, despite active moves, are focused on improving rental conditions or improving the quality of premises, rather than on consolidating offices.
