The volume of new warehouse completions in the Moscow Region in Q1 2012 reached 43,405 sq m. This is nearly half of the value recorded for Q1 2011 (76,200 sq m) and 5 times less than Q4 2011 (208,600 sq m), according to estimates by Jones Lang LaSalle analysts. Although total new construction in 2012 is expected to reach 700,000 sq m (44% YoY growth), the majority of these premises has been already preleased. Growth of demand in 2011 coincided with the lowest delivery and has led to overshadowing of demand from 2011 to 2012. In such conditions potential tenants have to plan expansion beforehand and built-to-suit schemes became extremely popular.
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