Ryan Arrowsmith and Chris Parry of CBRE negotiated the seven-year lease off market on behalf of Ashpark Nominees.
The site was previously occupied by The Outdoor Furniture Specialists who vacated in February. The showroom is equipped for immediate occupation with Autobarn expected to be trading as early as March.
Waurn Ponds Plaza benefits from recent modernisation and expansion, ample parking, and a convenient location between Geelong and the Surfcoast. The plaza houses major national retailers including Furniture Galore, BCF & Petbarn.
Mr Arrowsmith said the high level of interest in the off market campaign and the long list of retailers who missed out on this opportunity, demonstrated the increasing demand for retail space in this area.
“This lease represents the only remaining vacancy of its kind in Waurn Ponds Plaza, meaning that other retailers looking to expand into the municipality will have to wait for the next lease expiry.”
“This Waurn Ponds Plaza premises fit the tenant’s geographical requirements, offering an ideal opportunity to accommodate Autobarn’s expanding operations and establish a presence in a proven retail market,” Mr Arrowsmith said.
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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 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 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 at www.cbre.com.
