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. Last Updated: 07/27/2016

Triangle House Set to Stand Out

Shiny and futuristic, the $10 million Triangle House business center is set for completion next month in northeast Moscow.

The 2,693-square-meter office building is to crown a small hill next to the Third Ring Road.

The building's striking silver design is the work of Stanislav Kulish and Vadim Lipatov, partners in architectural firm Respekt. The two said they had set out to design a building that would attract attention.

"We wanted to make a modern building, one that would reflect the time of its construction at the turn of a new century," Lipatov said. "We wanted it to have its own identity, not just fit a description like 'the third building on the right.'"

Both architects are 33 years old and graduates of the Moscow Architectural Institute, where they now teach. Their other projects include reconstruction of an Inkombank branch office and construction of a Mordovian trade representative building.

Kulish said planning for work on Triangle House started when the site was occupied by a cool-storage warehouse company. The company has since changed hands — it is now part of the Alfa Group financial empire — and intends to quit the site, he said.

Respekt took over the project after another architect had begun work on the ground floor, but Respekt designed the whole exterior and much of the interior, he said.

Kulish said Respekt has also been asked to produce concepts for an elite housing building and a trading center next to Triangle House.

The building, which cost about $10 million to construct, will be ready for occupation next month, said Roman Cheptsov, administrator of commercial property for sole agent A.B.N. Ltd.

He added that work on the building stalled following the 1998 financial crisis and resumed in 1999, after oil and forestry consortium ZAAB bought the site from the cool-storage firm.

A.B.N. Ltd. is a real estate consultancy that specializes in leasing Class A and Class B office space to foreign and Russian corporations, Cheptsov said. Its clients include Bouygues, Rehau, and Eurocopter, he added.

The five-story triangular structure, located beside a completed section of the Third Ring Road near the Krasnoselskaya metro station, will offer 2,080 square meters of usable Class A office space with 3-meter ceilings, he said.

The asking price, including servicing, is $470 per square meter per year.

Clients will have the option of fitting out their own space, but ZAAB will insist on a unified style for the building, Cheptsov said.

A fitness center is to occupy the ground floor, and there is to be underground parking for 14 cars and aboveground parking for 30 cars, Cheptsov said.

ZAAB is considering topping the building, which already offers panoramic views from the large windows of its main office spaces, with a glass dome and opening a restaurant or cafeteria on the roof, he said.

ZAAB has experience with foreign companies and made sure the building met international standards with Otis elevators, Trane air conditioning, a Siemens internal climate-control system and a security-card system, Cheptsov said.

The Krasnoselskaya area has little office space, and the Moscow City government welcomed construction of Triangle House as a way of shifting commercial activities out of the city center, he said.

Cheptsov said that the unusual shape of the building caused some grumbling in Eikon-C, the local construction company, but that the workers became accustomed to its peculiarities.

Michael Lange, managing director of real estate firm Jones Lang LaSalle, said Triangle House appeared to bring together several elements that did not match.

It is isolated from other office centers but is too small to initiate a shift of other offices into the Krasnoselskaya area, he said.

Access is currently poor because the sector of the Third Ring Road where Triangle House is located will probably not be linked to the rest of the ring for the next two years, he added.

Lange also questioned the triangular design of the building, saying there were good reasons why few buildings have that shape internationally.

"If someone wants to make a statement, that's OK, but the statement will translate into effectiveness, efficiency, usage of the building," he said.

The building's status as Class A office space was also questionable, he said, because the Krasnoselskaya area did not match the high quality of the building and, as a result, the asking price was "perhaps a bit steep."

Sergei Riabokobylko, director of real estate firm Stiles and Riabokobylko Ltd., agreed, saying the price was at the top end of the market for similar buildings.

He said tenants seeking long-term tenancies would be cautious about leasing space in Triangle House because it was ZAAB's first development.

"They [ZAAB] may be dealing with this project because it's an opportunity, not because it's their business model," he said.

This could mean that Triangle House could eventually be sold, and tenants would have to deal with new landlords, Riabokobylko said.

Tenants wanting long-term leases favored landlords who shared their goals, he added.