Melbourne 20 April 2016 – Exponential business growth has supported the expansion of the leading national wholesale flooring distributor Premium Floors Australia, with the company inking a lease on its newest warehouse and head office in Dandenong.
CBRE’s James Jorgensen and Stephen Adgemis, in conjunction with Andrew Loudon from Crabtrees Real Estate, negotiated the seven-year lease of 81-87 South Park Drive on behalf of lessor, Scaunich Investments Pty Ltd.
Mr Adgemis said the property supported the strategic business requirements of the tenant.
“After identifying the need for a larger presence in Melbourne’s south east to support its growing business operations, Premium Floors Australia was attracted to this property due to its premium position in a high class estate and modern features,” Mr Adgemis said.
“Premium wanted a property that reflected its corporate image, and after an exhaustive search of the market, 81-87 South Park Drive was identified as an ideal option,” Andrew Loudon of Crabtrees Real Estate said.
Mr Jorgensen said the property’s location and size were the main drawcards.
“Despite reasonably high vacancy levels in the south-east, there remains little choice available for tenants looking to buy/lease buildings circa 5,000sqm,” Mr Jorgensen explained.
“Being in close proximity to the Eastlink Interchange is still a major attraction for tenants, which is having an upward effect on rentals and driving competition for these types of facilities.”
Further evidencing the trend, there are 14 buildings available for lease in the entire south east market between 5,000sqm and 7,000sqm, most of which are B-grade.
“This was a fantastic result for an A-grade asset and further testament to the continued strength of demand currently being seen for assets such as this,” Mr Jorgensen said.
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