Cook Medical has expanded its presence in Brisbane Technology Park after securing 735sqm of office space at 85 Brandl Street.
Cook Medical delivers healthcare business solutions and makes 16,000 products that serve hospitals across 135 countries.
CBRE’s Michael Skarparis and Mel Pikos negotiated the group’s new five-year lease deal, which adds to the company’s existing presence in Eight Mile Plains.
“Cook Medical saw a fantastic opportunity to add to their existing footprint within Brisbane Technology Park as they currently own and occupy the adjoining office building at 95 Brandl Street,” Mr Skarparis said.
“They were rapidly outgrowing their existing building and needed to make a lease decision quickly. 85 Brandl Street fitted their size requirement to a tee so their decision making process was relatively short.”
The new lease deal was secured at a gross annual rental of approximately $315,000 + GST and includes 17 on site car parks. The deal included a market level incentive.
CBRE’s Mr Pikos noted; “We are seeing strong activity from the medical industry and businesses that supply them, and this is translating into transactions in office accommodation across the Brisbane market. With recent deals to Cook Medical, Henry Schein Halas, and Integria Healthcare, demand is continuing to increase in the sector.”
“The ability to purpose-build their new fitout in close proximity to their existing workforce was another key attraction,” Mr Pikos added.
The deal is the latest to have been concluded by CBRE in Brisbane Technology Park, with the firm having concluded over 3,500sqm of leases in the precinct in the past 18 months.
Cook Medical delivers healthcare business solutions and makes 16,000 products that serve hospitals across 135 countries.
CBRE’s Michael Skarparis and Mel Pikos negotiated the group’s new five-year lease deal, which adds to the company’s existing presence in Eight Mile Plains.
“Cook Medical saw a fantastic opportunity to add to their existing footprint within Brisbane Technology Park as they currently own and occupy the adjoining office building at 95 Brandl Street,” Mr Skarparis said.
“They were rapidly outgrowing their existing building and needed to make a lease decision quickly. 85 Brandl Street fitted their size requirement to a tee so their decision making process was relatively short.”
The new lease deal was secured at a gross annual rental of approximately $315,000 + GST and includes 17 on site car parks. The deal included a market level incentive.
CBRE’s Mr Pikos noted; “We are seeing strong activity from the medical industry and businesses that supply them, and this is translating into transactions in office accommodation across the Brisbane market. With recent deals to Cook Medical, Henry Schein Halas, and Integria Healthcare, demand is continuing to increase in the sector.”
“The ability to purpose-build their new fitout in close proximity to their existing workforce was another key attraction,” Mr Pikos added.
The deal is the latest to have been concluded by CBRE in Brisbane Technology Park, with the firm having concluded over 3,500sqm of leases in the precinct in the past 18 months.
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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 2015 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.
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 2015 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.
