SWC Management’s PazStone arm has inked a 10-year lease in the heart of Brendale’s industrial precinct.
PazStone enlisted CBRE to undertake a controlled market search of Brisbane’s northern suburbs. After identifying the client’s core needs, a list of suitable facilities was compiled by CBRE’s Dillon Murphy and Hugh Adnam, who also negotiated the lease.
The stone retailer viewed over 10 facilities, eventually deciding upon a 3,800sqm design and construct site (53.5% coverage) for an annual lease of $465,500 (net). The 6/133 South Pine Road facility is located in an estate being developed by Brisbane group Van Riet – with the building delivery expected within six months of the lease execution. This quick turn-around period was what attracted PazStone to the facility.
The pre-lease transaction is set to bring PazStone’s two facilities together into one future-focussed hub, while providing ample room for future growth opportunities.
CBRE’s Mr Murphy said the property offered ease of access and would be purpose built to suit PazStone’s operational needs.
“The site offers expansive signage opportunities and easy-access, just 25 minutes from the city,” Mr Murphy said.
Mr Adnam added that, “The availability of land and opportunity to expand the facilities were the main drivers for these occupiers.”
The property will be offered for sale through an Expressions of Interest campaign, expected to commence in coming weeks.
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