Melbourne, 24 February 2014 – The Dandenong South Industrial leasing market has had a strong start to the year, with two leasing deals finalised in recent weeks.
CBRE’s James Jorgensen has leased an office/warehouse at 6-10 Mirco Circuit to Continental Steel Pty Ltd. The property, owned by Guiseppe Caglioti, comprises a 1,703sqm warehouse and a two level 280sqm office. The price was $168,000 plus GST per annum on a two year term with 3% reviews.
Mr Jorgensen also leased a 2,135sqm warehouse at 60-64 Arkwright Drive. Owned by investor WW Projects Pty Ltd, the brand new state-of-the-art warehouse was leased 2 months after completion on a seven year term at $75psm. The property features two roller shutter doors, security fencing, extensive parking and quality staff amenities.
Mr Jorgensen said the deals reflect on the positive economic outlook in the area, with strong growth forecast. “Whilst there is plenty of available stock in the 2,000sqm size range we are starting to see a good rate of absorption, which is a very positive sign for the market"
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.