Australia’s leading online tech retailer Mwave.com.au has leased a new 5,730sqm premises at Lidcombe Business Park in Sydney.
CBRE’s Michael O’Neill and Shaun Timbrell negotiated the 10-year lease deal over the Goodman Group-owned facility, which is more than double the size of the online retailer’s previous premises.
“The commitment reflects the growth in the on-line distribution of computer and gaming products,” Mr O’Neill said.
“In 2018, the size of the Australian gaming industry was estimated at $131 billion and its expected that it could become a $300 billion industry by 2025.”
Mr O’Neill noted that Mwave had targeted the central west area of Sydney given the area’s proximity to customers and major distributers such as Australia Post.
CBRE’s Michael O’Neill and Shaun Timbrell negotiated the 10-year lease deal over the Goodman Group-owned facility, which is more than double the size of the online retailer’s previous premises.
“The commitment reflects the growth in the on-line distribution of computer and gaming products,” Mr O’Neill said.
“In 2018, the size of the Australian gaming industry was estimated at $131 billion and its expected that it could become a $300 billion industry by 2025.”
Mr O’Neill noted that Mwave had targeted the central west area of Sydney given the area’s proximity to customers and major distributers such as Australia Post.
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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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
