Matthew Brothers Engineering Pty Ltd (MBE) is the latest business to acquire prime industrial space in Altona, following the practical completion of its new manufacturing facility which was purchased for $7million.
The purpose built facility was developed by Cadence Property Group in conjunction with Texco Construction, offering MBE a bespoke design and quality manufacturing facility in the heart of Altona Logistics Park on Toll Drive.
CBRE’s Harry Kalaitzis and Todd Grima brokered the sale of the site which comprises a 3,400 sqm factory with dual gantry cranes, external truck wash area, paint shop and 330sqm of premium office space.
Mr Kalaitzis said; “After analysing the wider western industrial market, MBE shortlisted Altona Logistics Park due to its excellent infill location and the offering of excellent proximity to major arterials, the Port of Melbourne and local amenity.”
“The move by MBE will future proof its operations due to the site offering over 8,000sqm of expansion land,” Mr Kalaitzis added.
Cadence Property Group managing director Charlie Buxton said the MBE facility was the final piece of the $55m Altona Logistics Park that the company has developed over the last two years.
“We were extremely happy to work with MBE on the delivery a state of the art customized manufacturing facility, which will allow the business to continue their long standing operations in the local area” said Mr Buxton.
The move to Altona marks a significant milestone for MBE, after the company sold its sought after 120 Mason Street, Newport manufacturing site for $8.3million. MBE had occupied the site since 1912.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
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 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 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.