Deluxe Products has inked a new five-year lease on a facility in the highly sought after Wetherill Park industrial precinct.
CBRE’s Industrial & Logistics team of Elijah Shakir, John Micallef and Michael O’Neill were enlisted by the sitting tenant Yusen to sub-let its remaining lease tail at 1/160-162 Newtown Road.
After sourcing several tenants looking for longer lease terms, a deal was struck between the landlord Leda Holdings and Deluxe Products, with Yusen able to surrender the remainder of its covenant.
The tenant, which specialises in lifestyle and consumer products, has committed to 5,642sqm of space at $115 per sqm net.
Mr Shakir said: “Wetherill Park’s industrial area is well-established and has been able to attract a high number of furniture and building product suppliers who are seeking to collaborate with local business operators.”
“Subsequently, we were able to achieve a higher rental rate than the previous passing rental for our client.”
The building additionally provides internal clearances of between 7.5-9.1 metres and is an ESFR sprinklered facility throughout. Its prime location along Newtown Road means Deluxe Products has access onto Horsley Drive and the M7 on/off ramps, through Cowpasture Road.
CBRE’s Industrial & Logistics team of Elijah Shakir, John Micallef and Michael O’Neill were enlisted by the sitting tenant Yusen to sub-let its remaining lease tail at 1/160-162 Newtown Road.
After sourcing several tenants looking for longer lease terms, a deal was struck between the landlord Leda Holdings and Deluxe Products, with Yusen able to surrender the remainder of its covenant.
The tenant, which specialises in lifestyle and consumer products, has committed to 5,642sqm of space at $115 per sqm net.
Mr Shakir said: “Wetherill Park’s industrial area is well-established and has been able to attract a high number of furniture and building product suppliers who are seeking to collaborate with local business operators.”
“Subsequently, we were able to achieve a higher rental rate than the previous passing rental for our client.”
The building additionally provides internal clearances of between 7.5-9.1 metres and is an ESFR sprinklered facility throughout. Its prime location along Newtown Road means Deluxe Products has access onto Horsley Drive and the M7 on/off ramps, through Cowpasture Road.
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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.
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.
