XXI Century Announces Agreement with X5 Retail Group, Management Shake Up

On Friday, XXI Century Investments (XXIC LN: N/R) announced that it had signed a pre-lease agreement with Russia’s X5 Retail Group for the lease of 4,200 sq. m in XXI Century’s new shopping center Kvadrat Perova. X5’s Perekrestok supermarket brand will occupy the space. The agreement will give X5 over 20% of Kvadrat Perova’s GLA. XXI Century has already pre-leased more than 90% of Kvadrat Perova’s GLA at an average rate of USD 42 per m2 per month.  In related news, XXI Century also announced the departure of one of  its Non-Executive Directors, Mark Holdsworth, and the appointment of Mark Iwashko as his replacement. Iwashko is joining XXI Century from Horizon Capital.