Perth, 26 August 2015 – CBRE has recently negotiated two lease agreements within an A-grade office building at 503 Murray Street, as tenants increasingly prioritise modern buildings with quality amenities to support their business operations.
Demonstrating this trend, leading technology company NEC Australia leased one floor and global infrastructure consulting firm Parsons Brinkerhoff have renegotiated a lease over two floors at 503 Murray Street. The above mentioned leases come on the back of Lloyds Register International also leasing space in the building on Level 1 last year.
The A-Grade commercial building was completed in July 2009 and offers large efficient floor plates, a five star NABERS rating, quality end of trip facilities, close proximity to public transport and easy access to the freeway.
Luke Bray of CBRE negotiated the deals on behalf of the Landlord Fairworld Holdings.
NEC committed to a 1,179sqm space on a five-year term to relocate closer to its client base in the Perth CBD, whilst Parsons Brinkerhoff recommitted to the 2,303sqm space over two floors it has occupied since 2009 for an additional seven-year term. There is now only two full floors of fitted out space available for lease in the building.
Mr Bray said the property’s quality amenities; energy efficient design and prime location in the popular west end CBD precinct were major drawcards to the tenants in addition to the very competitive rental terms on offer.
“NEC and Parksons Brinkerhoff are representative of the tenant demand for modern A-grade buildings within the CBD at rents which are now seen as extremely good value.”
“503 Murray Street provides tenants with a very cost effective option with all of the benefits of an A grade building on the Terrace whilst only being a couple of blocks away,” Mr Bray 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.