Melbourne, 24 November 2015 – Frasers Property Australia and the Charter Hall-backed Commercial Industrial Property Group have secured BSN Medical as the latest new tenant for their expanding Mulgrave Office Park.
Frasers and CIP have been jointly developing the 211 Wellington Road park to capitalise on tenant demand in Melbourne’s outer south-east.
BSN, a global leader in the worldwide healthcare market, has committed to lease approximately 1,839qm of space in Building B, alongside Monash University.
The university commitment was announced earlier this year, with practical completion of the 12,700sqm building due next month.
CBRE Senior Associate Director, Elise Betts, introduced the BSN deal, which involves a whole floor in the soon-to-be completed building.
“The fact that it was a new building was particularly appealing for BSN, as was the pending completion date, which perfectly suited their time frames,” Ms Betts said.
“The location, close to their key clients, was another draw card,” Ms Betts noted, adding that the medical group was relocating from nearby Notting Hill.
The lease follows a recent commitment by BMW's financial services arm to occupy 4,729sqm of space in Building C at the park, which is due for completion in the third quarter of 2016. Other tenants in the 3ha estate include Mazda Australia, whose national headquarters are located in Building A.
Ms Betts said the site’s close proximity to Melbourne’s major arterials and key transport links had underpinned strong interest in leasing opportunities at the park, as had the high car parking ratios - at a minimum of six cars per 100sqm of office space.
For Australian/international news or global stories, follow us on Twitter.
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 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.
