Otis Elevator Company has leveraged favourable tenant conditions in West Perth’s office market, to secure its newest Perth headquarters.
The global elevator manufacturer has signed a five-year lease deal on a 245sqm office premises at 610 Murray Street, comprising ground floor partially partitioned accommodation.
CBRE’s Rick McKenzie, who negotiated the lease on behalf of a private lessor, said the deal highlighted the attractive conditions on offer for tenants in the West Perth market.
“The flight to centre - and quality - will continue to play out in the short to medium term, as evidenced by the 2.9% reduction in West Perth vacancy in the first six months of this year. The remaining vacancy at 610 Murray Street continues to receive a strong level of enquiry from prospective tenants,” Mr McKenzie said.
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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.
