Sydney, 28 April 2015 –Sydney based furniture retailer, By Dezign has leased warehouse space in Glendenning to accommodate its expanding operations.
The 3,500sqm warehouse space, located at 24 Cox Place, was recently vacated by VISY and features internal clearances up to 11.3m, four raised docks, and outstanding natural lighting throughout. The property is ideally located within the prominent Glendenning industrial precinct, which offers convenient access to the M7 Motorway.
CBRE’s John Micallef and Greg Pike negotiated the agreement on behalf of lessor De Bortoli Wines Pty Ltd. The tenant committed to a five year term on an initial rental of $95/sqm.
Mr Micallef said the lease agreement represented the high tenant demand for industrial properties in the area, with the space leased within 2 weeks of CBRE being approached by the lessor.
“Glendenning is continuing to remain a popular choice for industrial users, with a number of businesses vying to gain a presence in the highly sought after market.”
“The warehouse’s prime location within minutes of the Westlink M7 Motorway was particularly appealing to By Dezign, due to the convenience of servicing its clients across the Sydney region,” Mr Micallef 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.