Brisbane, 3 April, 2014 – Marinucci Packaging has leased a prominent industrial property in Brisbane’s northern suburbs to accommodate its expanding operations.
Located at Mineral Sizer Court within the new BIZ Business Park in Narangba, the 9,132sqm property has been designed and constructed as per the lessee’s specifications. The facility features two sunken loading docks with dock levelers, expansion capability of 460sqm, an office fit-out and an 8.5 metre internal springing height clearance.
CBRE’s Sam Higgins negotiated the deal on behalf of the lessor, Queensland development group, Pradella. Marinucci Packaging has committed to a 10-year term on the property.
Mr Higgins said the industrial facility’s location was a key factor behind the deal.
“Marinucci Packaging was looking for new industrial space in Brisbane’s northern suburbs, and this property’s direct highway access and ability to be constructed within a tight timeframe were major drawcards that helped seal the deal,” Mr Higgins said.
“The property’s affordable gross occupancy cost and substantial cubic capacity were highly appealing to the lessee.”
David Marinucci, Chief Operating Officer of Marinucci Packaging said he was extremely pleased with the new facility.
“The business is experiencing solid growth and the new facility will enable us to support our market more efficiently than previously. Queensland is an important market for us and the high specification of the building will be ideal for our clients,” Mr Marinucci said.
“We appointed CBRE to undertake the industrial brief on behalf of Marinucci Packaging and the coordination by CBRE of the various lessors and developers was vital in our decision making process”.
Narangba is located approximately 38km north of Brisbane.
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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 (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.au.
