Strong demand for assets in the industrial suburb of Yennora has underpinned two significant leasing transactions in the area.
Great Western Auto Dismantlers has inked a three-year lease on a 4,048sqm property at 2 Pine Road after relocating from its Chipping Norton home.
CBRE’s John Karlovasitis and Elijah Shakir negotiated the lease on behalf of Spartan Steel for an annual rental of $130,000 gross.
Mr Karlovasitis said the property attracted significant interest given the shortage of industrial land currently available in the area.
“With a shortfall of quality yard stock in the Yennora area, assets such as 2 Pine Road continue to see strong levels of tenant demand and are subsequently leased in a short amount of time,” Mr Karlovasitis said.
Further evidencing the area’s appeal, a truck detailing business has signed a three-year lease on a 3,200sqm warehouse property at 2 Pine Road Yennora. The annual rental achieved was $260,000 gross.
Mr Karlovasitis commented on the deal: “The property’s recent refurbishment coupled with its high traffic exposure to Pine Road underpinned the deal.
“This property is prominently positioned on one of Yennora’s main thoroughfares - providing exposure and connectivity to one of Western Sydney’s premier industrial locations,” Mr Karlovasitis said.
Great Western Auto Dismantlers has inked a three-year lease on a 4,048sqm property at 2 Pine Road after relocating from its Chipping Norton home.
CBRE’s John Karlovasitis and Elijah Shakir negotiated the lease on behalf of Spartan Steel for an annual rental of $130,000 gross.
Mr Karlovasitis said the property attracted significant interest given the shortage of industrial land currently available in the area.
“With a shortfall of quality yard stock in the Yennora area, assets such as 2 Pine Road continue to see strong levels of tenant demand and are subsequently leased in a short amount of time,” Mr Karlovasitis said.
Further evidencing the area’s appeal, a truck detailing business has signed a three-year lease on a 3,200sqm warehouse property at 2 Pine Road Yennora. The annual rental achieved was $260,000 gross.
Mr Karlovasitis commented on the deal: “The property’s recent refurbishment coupled with its high traffic exposure to Pine Road underpinned the deal.
“This property is prominently positioned on one of Yennora’s main thoroughfares - providing exposure and connectivity to one of Western Sydney’s premier industrial locations,” Mr Karlovasitis 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 (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.
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 (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.
