Tecworks International has secured new premises in Seven Hills, leasing space formerly occupied by Orbitz Elevators.
CBRE’s Matthew Alessi and Brendan Wein negotiated the lease over the 13 Distribution Place office/warehouse, which offers a total lettable area of 1,222sm.
The lease is for five years, with a five-year option. It was struck at an initial rental of $127.5/sqm net + GST.
“Orbitz Elevators engaged CBRE for advice pertaining to the potential breaking of its lease with four years remaining. CBRE successfully secured a long-term national tenant for the lessor, which meant significant upside and allowed our client to surrender their lease with no penalty,” Mr Alessi said.
The property offers a large concrete forecourt, allowing excellent container loading and unloading. It also includes a modern, two-level office, internal warehouse clearance of up to 8.2 metres and excellent access to the M7, M2 Motorways and major arterial roads.
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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.
