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.