Office Space- January 2012

Office prices in Sochi and Adler seem to be holding steady, with a few premium listings commanding higher prices.  Most offices in Adler run in the 500-800 rubles per square meter ($1.50 -$2.50 square foot), although a two-story office in central Adler with 1,800 square meters (about 19,400 square feet) is listed at 1,500 rubles per square meter (about $4.50 per square foot).  Sochi prices in the center start at about 800 rubles per square meter ($2.50 per square foot), with several offices on the centrally-located, but traffic-prone, Vinogradnaya Ulitsa.  Ulitsa Roz (very center of Sochi) has an office listed at 1,125 rubles per square meter for 40 square meters (about $3.40 per square foot for about 430 square feet).  One larger office on Voikova Ulitsa is listed at 202,000 rubles for 135 square meters.  That is a price of about $6,500 per month for a total of 1,452 square feet or about $4.50 per square foot.  A 250 square meter office with parking and ideally located near the Sochi City Administration, Melodiya Shopping Center and seaport, is renting at 3,000 rubles per square meter.  That is a total price of about $24,000 per month for 2,700 square feet, which correlates to a per square foot price of $9.00.  This is high for Sochi, but the location, parking availability and size of the space are unusual.  

Office Rental in Sochi

Several outside organizations have been inquiring about office space for rent in Sochi.  I viewed an office on the 4th floor of a building on Kurortniy Prospekt, across the street from the Moskva Hotel (to be rebuilt with the Marriott flag).  This office was 60 square meters and was available at a price of 1,500 rubles per square meter per month.  This contrasted with prices from 800- 1,000 rubles per square meter per month on Vinogradnaya and Gagarina Streets.  Another office was rented in another centrally located hotel for 1,800 rubles per square meter per month.  

A very attractive office consisting of two floors and 1,350 square meters is for rent at 822 rubles per square meter.  The price is more reasonable, but the space is quite large compared to most offices.  The office is in the same complex as Aleksandr's Lighthouse and below the Lighthouse Restaurant.  The location is very good and the office has excellent view of the Black Sea.

 View from office

Office