TNK-BP Has Signed Lease Agreement For Office Space In Nordstar Tower Business Center

4 Jun, 2010, Moscow

TNK-BP and DS Development (DON-Stroy group of companies) have signed lease agreement for 37,700 sq. m of office space in Moscow business center Nordstar Tower. The lease term is 15 years with an option for prolongation. TNK-BP will occupy space from the 2nd to the 20th floors.

At the moment TNK-BP subdivisions are located in 12 office centers in different Moscow districts. Almost all of them will be consolidated in the business center Nordstar Tower. The company will move to the new office in the first quarter of 2011 after the completion of fit out works. Cushman & Wakefield advised on the deal. ABD Architects were chosen as interior design company.

Class A business center Nordstar Tower with the office rentable of 79,650 sq. m was delivered in 2009. It is located on 3, Begovaya Str. There are 42 floors and 1,200 car parking slots in the building. Nordstar Tower was constructed with the use of all the modern engineering systems. It has convenient elevators and effective floor plans. This year business center was nominated for "The Best Class A Business Center Award 2010" at CRE Awards Summit.

Anatoly Tyemkin, Executive Vice-President of TNK-BP, said: "TNK-BP aims at being maximally efficient. New lease acquisition is a part of the important strategic decision for TNK-BP. It will allow the company to consolidate all the Moscow subdivisions within one office building and optimize administrative costs".

"This is a unique deal for post crisis market." commented Ivan Sitnikov, General Director, DS Development. "The decision of large companies to consolidate their subdivisions within one office building can stimulate the office market to enter a new phase of development. We are glad that TNK-BP chose Nordstar Tower for their HQ. This is the best proof of the high quality of the building".

Sergey Riabokobylko, Partner, Senior Executive Director, Cushman & Wakefield in Moscow, commented: "Such a huge transaction is completed at the most favorable moment on the Moscow office market when the value of the institutional deal for a developer is the highest. This deal proves growth of investment attractiveness of the Moscow real estate market that still lacks quality office buildings".

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