A leader in mobility products has found a new, long-term home in Sydney’s west.
Sunrise Medical Pty Ltd has signed a seven-year lease at 15 Daniel Street, Wetherill Park, with two additional two-year options.
Features of the 14,920sqm site include a building area in excess of 6,000sqm with state-of-the-art showroom, warehouse and office facilities, proximity to the M7 and M4 and visibility from The Horsley Drive.
CBRE’s Elijah Shakir, Moshe Greengarten and John Micallef secured the lease at an annual rate of $117.50psm on behalf of a private investor.
“The high level of office space required proved to be a major challenge in finding a suitable building for the tenant,” Mr Greengarten said.
“The result was a lease being taken for a larger building, with surplus warehouse space they can grow into.”
It highlights the strength of infill industrial markets such as Wetherill Park and Smithfield, which have been beneficiaries of the outward shift of land supply for institutional owners.
“The established industrial precinct of Wetherill Park has benefited from strong rental and land growth in the past 24 months,” Mr Shakir added.
“Recent transactions have highlighted speculative developed facilities with rents sitting between $120 and $125psm net, while secondary rents have increased to between $115 and $120psm net.”
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
