More than One Third of the Companies that Plan to Move to New Offices in Saint Petersburg are Also Looking to Expand their Business

According to the survey, conducted by Satellit Development, LLC over last three quarters of 2012, 37% of potential office space tenants consider business expansion to be the reason for search of new and larger office space.

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vladimir skigin, skigin vladimir, satellit development, russian real estate, construction

Saint Petersburg's Office Space Is In Short Supply

“We are expecting the situation with a shortage of the large office spaces to change in 2013, right after two new A-Type business centers come online,” Mr. Skigin explains.

(PRWEB) November 15, 2012

According to the survey, conducted by Satellit Development, LLC over last three quarters of 2012, 37% of potential office space tenants consider business expansion to be the reason for search of new and larger office space.

“In addition, more than one fifth of the companies searching for new spaces are looking to improve office conditions. This the trend of moving to the modern business-centers of a higher level is continuing. Just as many clients (21%) are considering moving to the business-centers in the center of Saint-Petersburg or being located on river banks with a superior view,” said Vladimir Skigin, a co-owner of the company “Satellit Development”.

About nine percent (9%) of respondents are trying to better the lease terms. Most often they prefer to choose new offices at a lower rate of rent. Small spaces that differ in sizes from 2,500 to 5,000 sq. feet are in a high demand at the moment. There is also a stable uptrend of demand for spaces of 15,000 square feet and above.

“We are expecting the situation with a shortage of the large office spaces to change in 2013, right after new A-Type business centers like Administration and Business project “Nevskaya Ratusha” and “Renaissance Pravda” come online,” Mr. Skigin explains. Office market is becoming more and more civilized: now owners and management companies offer both high-level service, good commercial terms and are meeting all the deadlines.

About Satellit Development
Management Company Satellit Development, LLC was established in 2008 and its main activities include: integrated land development, sale of land, development and design of residential and commercial projects, consulting and brokerage services.


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