Morgan Stanley snaps up Metropolis Mall in Moscow

A fund managed by Morgan Stanley Real Estate Investing has acquired the Metropolis Shopping and Entertainment Mall. The acquisition of the 82,000 sqm shopping mall located in the center of Moscow is one of the largest ever transactions in Russia. Developed by Capital Partners, Metropolis opened in 2009, offering 2,900 parking spaces to its visitors.
The shopping center is part of the institutional quality mixed-use complex Metropolis with 311,000 sqm of gross built area which includes three office buildings with a total GLA of approximately 80,000 sqm. The center is fully-leased and has a waiting list for retailers wanting to rent space.
The list of tenants features names such as hypermarket Karusel and department store 2 Stockmann, along with a large number of international retailers including Michael Kors, H&M, GAP, River Island, New Look, DKNY, Bebe, Jaeger, Uterque, Imaginarium, and Zara. The center also has a multiplex cinema operated by Cinema Park Deluxe and a bowling alley. The mall’s average footfall in 2012 was 55,000 customers per day.