Sydney, 29 April 2014 – Growing global IT company Arbor Networks has leased a 428sqm refurbished office suite in the Sydney CBD.
CBRE’s Tim Courtnall and Tim Molchanoff negotiated the lease deal on behalf of the lessor Valad. Arbor Networks committed to a three year term on the property, with an initial rental of $585 per square metre gross.
Mr Courtnall said location played a key factor in the deal.
“Arbor Networks was attracted to its location in the evolving midtown precinct, as well as the contemporary design of 151 Castlereagh Street,” Mr Courtnall said.
“The ability to complete a new fit out incorporating the balcony in the suite was also a major drawcard.”
Mr Courtnall said Arbor Networks had recently acquired a local business and planned to grow exponentially over the next three years.
Also at 151 Castlereagh Street, Silverstone Investments recently leased a 222sqm fitted out suite on the sixth floor.
CBRE agents Mr Courtnall and Mr Molchanoff negotiated the deal on behalf of Valad for a rental of $625 per square metre gross on a five-year term.
Mr Courtnall said Silverstone Investments relocated to 151 Castlereagh Street to be closer to its CBD clients.
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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.