“After selling the property to a private investor with a short-term leaseback, we were exclusively engaged to run a leasing campaign on the property. Within a month of the tenant vacating, we secured a new tenant for the site,” Mr Micallef said.
“This incredibly quick turnaround highlights the strong competition for existing warehouses in western Sydney given the shortage of available stock at present.”
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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 2017 revenue). The company has more than 80,000 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.