Global industrial has doubled its Melbourne footprint, after signing a five-year lease on a new Deer Park warehouse being developed in the city’s west.
Located on a 10,476sqm site, the 122 Radnor Drive property will comprise 3,784sqm of warehouse space, 400sqm ground floor office area and hardstand area measuring 4,184sqm.
The property is developed by Spencer Property Group – an Adelaide-based private property development company specialising in industrial assets.
CBRE’s Harry Kalaitzis and Todd Grima negotiated the deal on behalf of Spencer Property Group for an annual rental of $300,960 net.
Mr Kalaitzis said Global Industrial, which previously occupied a neighboring property within the Paramount Estate, was attracted to the estate’s strong amenity for staff and proximity to road infrastructure.
Global Industrial worked closely with CBRE and Spencer Property Group to ensure the purpose built facility was designed to maximise efficiency and storage capacity.
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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 approximately 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.