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Аdidas AG

Adidas is planning to purchase two 60,000-square-metre buildings in the PNK Chekhov 2 warehouse complex. The first building is currently being leased by the realtor, while the second is being leased by Enter. The deal is worth 6.4 billion roubles (around $97 million).

An Adidas representative confirmed the purchase: “We believe in the long-term potential of the Russian market. That is why we have decided to invest in the facility in question.”  

Given the fact that both buildings are currently under lease, the deal may be worth as much as 50,000 roubles (around $750) per square metre, according to Knight Frank office and warehouse realtor director Vyacheslav Kholopov. This means that the total sum could be 6.4 billion roubles, or around $100 million by today’s Central Bank rate. The PNK Chekhov 2 warehouse complex takes up 322,000 squares metres.

Clearly, the deal to purchase the warehouse buildings confirms that Adidas has no plans to abandon the Russian market. “Buying the warehouse buildings is logical, as it allows the company to optimise costs,” Kholopov notes. “And the fact that these buildings are currently occupied by other tenants demonstrates that Adidas plans to consolidate its logistics spaces by creating a single distribution centre for the whole country.” At the same time, the lease with Enter gives the company a stable cash flow: “Based on average rental rates of 4000 roubles (around $60) per square metre per year, the total possible annual income from the storage facility could reach 250 million roubles [about $3.7 million].”

20 August 2015
Investor
3.7 mln

Investor profile

Аdidas AG

Germany

Company's website: www.adidas.com

T: +49 9132840

Public company

Contact: Mr Herbert Hainer, CEO

Adidas is a German multinational corporation that specialises in the production of sports shoes, clothing and accessories.

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