Adelaide, 15 May 2013- Adelaide’s industrial property sector is benefiting from a surge in transaction activity, as the market recovers from a stagnant end to 2012.
CBRE Manager of Adelaide Industrial and Logistics Services Craig Klemich said a rise in consumer sentiment and improved economic conditions were underpinning the market shift – as highlighted by several recent deals in the South Australian capital.
Earlier this year, Mr Klemich negotiated a lease deal for a 3,247sqm factory in Wingfield on behalf of K & R Tucker.
Tali Engineering took out a five-year lease with one three-year option on the property, which is located at 299-301 Hanson Road. The annual rent is $150,000 net plus GST.
A second deal in Wingfield saw Auspet and Vet lease a 1,282sqm warehouse/office from lessor Harmony Corporation.
Auspet and Vet committed to a three-year term with two five-year options. The annual rent is $150,000 net plus GST.
Mr Klemich said the industrial sector was making a turnaround from the lacklustre period experienced in Q3 and Q4 of last year.
“The activity we are seeing so far in 2013 indicates that the sector is entering an upward cycle,” Mr Klemich remarked.
“There are some very competitive lease opportunities out there at the moment which are favouring tenants, and more companies are taking note of this.”
In further testament to Adelaide’s strengthening industrial market, Mr Klemich recently negotiated a major factor/office deal on behalf of Taliouridis Nominees.
The 4,483sqm two-level building located at 119 Bedford Street, Gillman was leased by CBM Technology at $391,400 net per annum (plus GST). CBM Technology took out a seven-year term with two three-year options.
The factory features multiple gantry cranes with high clearance and multiple roller door access points.
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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 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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.