Online homewares wholesaler Urban Products will move into a new development from C3 Construction Group in Altona.
It has signed a five-year lease for a 3,960sqm space at 13 Marshall Court, a facility set for completion in Q4 2020.
Urban Products will relocate from its existing warehouse and head office in Brooklyn at a market net rent of approximately $75-80/sqm.
A high-clearance warehouse is accompanied by two levels of office space, a secure yard, dual roller doors and an 820sqm loading canopy.
Within Altona’s increasingly-popular industrial hub, Marshall Court offers immediate access to the Princes Freeway and is 12km from Port Melbourne, 16km from the CBD and 21km from the Melbourne Airport.
CBRE’s Tom Murphy, Ricardo Cappelletti and Fergus Pragnell secured the tenancy on behalf of C3 Construction Group.
“C3 Construction Group’s development consists of two separate tenancies, so this long-term pre-commitment is a great outcome,” Mr Murphy said.
“Warehousing for ecommerce retailers continues to dominate tenant activity, with firms such as Urban Products responsible for the majority of the vacancy uptake in the market.”
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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.
