The Original Mattress Factory (OMF) has opened its newest Queensland outlet in Bundall on the Gold Coast - marking its third store in the state’s south east.
OMF has signed a five-year lease on the 492sqm showroom at 72 Upton Street – positioned in the heart of one of the Gold Coast’s most well established and tightly held large format retail precincts.
CBRE’s Large Format Retail team, comprising Damian Crocetti and Sam Macgregor, negotiated the lease on behalf of Diviani Furniture Pty Ltd.
Mr Macgregor said the property’s location in one of the Gold Coast’s most well-known retail strips underpinned the deal.
“This prime showroom property is in a tightly held location surrounded by a mix of national retailers including JB Hi-Fi Home, Supercheap Auto and Amart Sports,” Mr Macgregor said.
“The subject site offers excellent onsite customer car parking, prominent signage allocation and ease of access from both Bundall and Ashmore roads.”
The general Gold Coast market has been buoyed on with increased confidence across most sectors, Mr Crocetti said.
“We have seen an uptick in the residential sector, which in turn has flowed through to boost household goods spending. This continues to support a strong base for retail growth, with many operators such as OMF looking to expand in established and key large format retail locations,” Mr Crocetti explained.
OMF has signed a five-year lease on the 492sqm showroom at 72 Upton Street – positioned in the heart of one of the Gold Coast’s most well established and tightly held large format retail precincts.
CBRE’s Large Format Retail team, comprising Damian Crocetti and Sam Macgregor, negotiated the lease on behalf of Diviani Furniture Pty Ltd.
Mr Macgregor said the property’s location in one of the Gold Coast’s most well-known retail strips underpinned the deal.
“This prime showroom property is in a tightly held location surrounded by a mix of national retailers including JB Hi-Fi Home, Supercheap Auto and Amart Sports,” Mr Macgregor said.
“The subject site offers excellent onsite customer car parking, prominent signage allocation and ease of access from both Bundall and Ashmore roads.”
The general Gold Coast market has been buoyed on with increased confidence across most sectors, Mr Crocetti said.
“We have seen an uptick in the residential sector, which in turn has flowed through to boost household goods spending. This continues to support a strong base for retail growth, with many operators such as OMF looking to expand in established and key large format retail locations,” Mr Crocetti explained.
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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 (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.
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.
