Adelaide, 07 April 2015 –185 Pirie Street is to be redeveloped as boutique office space after being acquired by The Palumbo Group.
Located in the prominent Hindmarsh Square precinct, the striking eight level development, will feature an impressive glass frontage design, strong ESD initiatives, on-site parking for 15 car parks and a café at ground level.
CBRE’s Michael Pfitzner and Andrew Bahr have been appointed to lease the seven upper levels of office space, which range from 761sqm to 868sqm.
Mr Pfitzner said the site’s strategic position in the heart of Adelaide’s best and most progressive business precinct would be a key selling factor.
'“Since 2005 the major developments in the area have had floorplates of 1,000sqm plus, therefore this development is unique in giving tenants who need 700-800sqm the opportunity to secure brand new quality office space,” Mr Pfitzner said.
Mr
Pfitzner further said: “It’s not often that signage opportunities become
available and 185 Pirie Street offers tenants this opportunity.”
The Palumbo Group has been responsible for hundreds of projects for State and Federal Government departments along with numerous private clients in South Australia.
Construction on 185 Pirie Street Adelaide is set to commence mid 2015 with construction to take 12-13 months.
“With the prime market tightening due to a lack of contiguous high quality space, 185 Pirie Street will appeal to those tenants seeking to upgrade their office accommodation and occupy brand new office accommodation,” Mr Pfitzner said.
For Australian/international news or global stories, follow us on Twitter.
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.
