The emergency lighting company appointed CBRE to undertake a comprehensive assessment of all existing and greenfield options in the south east industrial market, tailored to its future leasing needs.
Mr Aiello said that existing options were extremely limited, due to Clevertronics requirement for a high office component of circa 35% to cater for its administration, engineering, showroom and training requirements.
“We identified the Caribbean Park site as an ideal fit for Clevertronics’ operations,” Mr Aiello said.
“After initially missing out on this site, Clevertronics moved quickly to secure the building, which is due to be vacated in early 2019.”
Mr Adgemis added that the property will undergo significant refurbishment and renovation in preparation for handover, part of which will also be funded by the new tenant.
“Clevertronics will invest substantial capital to retrofit its new factory operations in the existing warehouse space, ready for lease commencement,” Mr Adgemis said.
Caribbean Park’s owner Ben Spooner added: “We’re delighted to welcome another strong brand to the Caribbean Park stable and are very pleased to have Clevertronics anchor our flagship industrial asset.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.