A private investor has secured a presence in Dandenong South’s industrial market with the purchase of a 1,119sqm property for $1.575 million.
CBRE’s Ben Mensink and James Jorgensen negotiated the deal of 41-45 Williams Road on behalf of Scanlon Property Holdings and Bracken Property Holdings, with the sale reflecting a building rate of $1,407 psm.
Located three kilometres from the Eastlink Freeway, the property is occupied by multinational aerospace and transportation specialist Bombardier Inc – a Canadian Stock Exchange listed company until April 2019.
Mr Mensink said the attraction of a global tenant provided investment confidence in the property.
“The buyer was attracted to the strength of the lease covenant. In addition, the proximity to Bombardiers manufacturing facility on Frankston-Dandenong Road, 1 km north, complements the facility,” Mr Mensink explained.
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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.
