Herbalife Nutrition Renews the Lease Agreement for Office Properties in Citydel Business Centre. CBRE Administers the Transaction

The area of the office properties leased by Herbalife Nutrition in Citydel exceeds 2,000 sq. m.  The parties have signed a long-term lease agreement for 5 years. The tenant’s office has occupied two levels of the business centre since 2017.

Herbalife Nutrition is a successful direct seller and a global balanced diet expert with over 40 years of experience in supplies of high-quality state-of-the-art food to consumers.

Mikhail Shmonov, Director of Lease Relations Department, Prime Property Management: “Herbalife Nutrition is a long-standing tenant of ours, and we are happy to renew cooperation for yet another long-term period. Following the negotiations, Herbalife Nutrition chose to keep its office in the same location and configuration due to a comfortable working environment valued by the company. As the management company of Citydel, we will do our best to continuously maintain and ensure quality service by the Class A business centre, which is so important for our tenants.”

Ekaterina Savaskova, Deputy Director of Corporate Customer Service Office: “CBRE was engaged as an exclusive adviser of Herbalife Nutrition to develop and implement a long-term office lease strategy. We had a challenging task of making the right choice: whether to stay or to relocate. The project implementation was significantly complicated by the need to work from home and fast-changing market situation. The option to stay proved more interesting from the perspective of long-term investments, flexible lease terms, high quality and cost-efficiency of the office space.”

Karina Shcherbakova, Senior Director for Finance and Operations, Herbalife Nutrition: “Our decision to stay is based on the cost-benefit assessment and cold math. First, a new lease of a similar property – considering the relocation and renovation costs – would have been more expensive. Second, it was important for us to keep a central location for the office and Sales Centre that we have also moved to CITYDEL Business Centre this year. Third, the transition to a hybrid pattern (by combining work from home with office work) makes it possible for us to provide a larger number of employees with workstations on the area of the same size. In recent years, Herbalife Nutrition has grown fast, which is the reason why we have increased the number of our employees significantly, and I think that this trend will continue.”