Park Place Moscow
Moscow, Russia

Opened in 1992, Park Place is a premier, high-rise complex in Moscow. It encompasses four high-security residential towers totaling 350,000 square feet with 331 spacious rental units and a fifth tower that provides 40,000 square feet of office space. The project also includes 15,000 square feet of retail space, a sports center, a child care center staffed by multi-lingual, Montessori-trained projessionals and ample parking in a heated underground garage. Just minutes from the city center and in close proximity to the Japanese and German Schools, the contemporary residential buildings serve as home to many top international corporate executives and foreign diplomats. Hines was engaged by the Russian development entity UpDK to provide expertise in finishing the project during mid-construction and has since served as the long-term managing and leasing agent. Initially servicing as both advisor and joint venture partner, Hines recommended several design changes to make the property more appealing to foreign tenants. As a result, Park Place was completely leased at premium rental rates, within the first year of operation.

Address
113/1 Leninsky Prospect
Moscow, Russia

Location
113/1 Leninsky Prospect (across from Dom Turist Hotel) 14 kilometers (8.7 miles) from the Kremlin in southwest Moscow

Hines' Role
Property Manager

Residential Component
331 apartment units

Net Rentable Area
Office building:
3,750 sq. m.
(40,371 sq. ft.)

Retail space:
1,392 sq. m.
(14,988 sq. ft.)

Residential:
32,658 sq. m.
(351,540 sq. ft.)

Major Tenants
Cummins Inc.
Fluor Enterprises Group, Inc.
Itochu Corporation
Panasonic
Sony Electronics
Sun Microsystems