X-FIT ENTERS VOLGOGRAD
4 Jul, 2012, Moscow
Cushman & Wakefield, the world’s largest privately-held commercial real estate services firm, today announced that a long term lease agreement between fitness club X-Fit and VolgogradCITY has been signed. X-Fit fitness club will occupy 3 090 sq.m. of the VolgogradCITY office complex which will include a swimming pool in the facility. Cushman & Wakefield advised on the deal.
VolgogradCITY is a new business district, situated in the center of Volgograd. It includes Class A business center, residential, retail, hotel and social infrastructure. The VolgogradCITY business center – is 26 floor building with panoramic views over the Volga river and the city. The total area of the building is 52 519 sq.m, occupied by offices (from 1st to 24th floors), fitness-center, retail and restaurants. VolgogradCITY has been operating since April 2011. Investment Company CityZenter is the developer. Moskovskiy Industrial Bank is an investor.
Fitness-club X-Fit is scheduled to open in the 1st Quarter 2013 and will become the first club of the X-Fit chain in Volgograd. X-Fit is a Russian chain of fitness-clubs working all over Russia for more than 20 years, consisting 30 sport-clubs. X-fit is to open up to 7 new locations annually as part of their expansion plan.
Georgy Letunov, President, X-Fit chain: “We are focused on increasing our presence in Russia’s regions. Opening X-Fit fitness-club in the large regional city as Volgograd, is part of our expansion strategy”.
Alexey Alekseev, Senior Consultant, Retail Services at Cushman & Wakefield adds: “Large fitness-chains usually expand their presence in Russia’s regions using either their own resourses or franchising schemes. X-Fit’s decision to open in the best project in the center of Volgograd is a good example of the strategy, where the company uses its own resources to open a new location.”
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