Bedding giant Snooze has relocated its flagship South Australian store to Noarlunga – cementing the suburb’s reputation as Adelaide’s premier large format retail hub.
The national retailer inked a three-year lease on the new 400sqm store at 160-168 Beach Road – marking Snooze’s 86th store nationally. The annual rental is in excess of $225 per square metre gross.
CBRE’s Dallas Sears, who negotiated the lease on behalf of a private investor, said the deal highlighted Noarlunga’s growing profile as Adelaide’s main large format retail precinct.
“Snooze’s new store neighbours a line-up of major national retailers, including The Good Guys, Barbecues Galore, Southern Flooring and Salvos,” Ms Sears said.
“Well-regarded as one of the city’s top homeware and leisure goods shopping destinations, Noarlunga is also located in close proximity to the Colonnades Shopping Centre and nearby public transport hub.”
Noarlunga is the main shopping and entertainment precinct in Adelaide’s outer southern suburbs, servicing the growing residential populations of Port Noarlunga South and Seaford.
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 approximately 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.