April 10, 2014. The warehouse market remains the most under-supplied segment of the commercial estate. Rent for Class A and B+ warehouses is now back to its pre-recession level, Ural Chamber of Real Estate's press service says.

According to the chamber's analysts, there are no available warehouse in the good quality segment (Class A and B+), and quite a few storage units run waiting lists with names of tenants. All of this is conducive to rent growth.

'Rent for Class A and B+ warehouses is now back to its pre-recession level, rising by 4% over the last year alone and by 56% over the last four years. Rents are higher than in 2008 for most of the facilities. As for Class B warehouses, the amount of vacant space has been fluctuating within 2% to 4% over the last 18 months. Some warehouses under 1,000 sq m become available from time to time. All of this facilitates gradual price increases as well,' says the chamber's analyst Guram Tukhashvili.

According to Tukhashvili, the only segment where prices are falling is Class C and D unheated warehouses: the rent for these dropped by 12% in the first quarter of 2014.