Continued business growth in the freight sector has underpinned a significant lease deal in Melbourne’s south eastern industrial hub of Altona.
Freight Assist Australia has signed a five-year lease on a 5,221sqm office and warehouse facility at the Altona Distribution Park.
Located at 201-2017 Maidstone Street, the new facility is double the size of Freight Assist’s current property – helping allow future expansion as the firm continues its rapid growth plans in the Australian market.
CBRE’s Todd Grima negotiated the lease on behalf of lessor, Stockland.
Mr Grima said the property’s location helped underpin the deal.
“The tenant was attracted to the property’s inner wester location and superior fundamentals of the building, which include a corporate office and amenities, high clearance warehouse, full drive around and drive through capability and extensive secure hardstand areas,” Mr Grima explained.
“The strong tenant interest in Melbourne’s inner western pockets is also helping support rental growth and place downward pressure on incentives.”
Freight Assist Australia’s Brendan Tate commented on its move to Altona: “Freight Assist Australia is now in its fifth year of operation and has been extremely fortunate to overcome adversity to become a significant player in the national express freight industry.
“Freight Assist Australia has evolved from being a small startup company in 2012 to a multimillion-dollar business in a very short time, which is something we are very proud of.”
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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 2016 revenue). The company has more than 75,000 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: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 2016 revenue). The company has more than 75,000 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.
