A commercial tenant specialising in infrastructure hasrecently leased a new facility in Dandenong South - in order to expand its business operations.
Located at 57-67 Letcon Drive, the 6,729sqm building features 15,000sqm of concrete hardstand, full drive around access, extensive office area and prime location in close proximity to major arterial roads.
CBRE’s James Jorgensen and David Aiello negotiated the lease agreement on behalf of Lettieri Property Group Pty Ltd. The tenant committed to a five-year term on an initial rental of $119per sqm net.
Mr Jorgensen said the high quality amenities and features of the site were ideally suited to the tenant’s business operations.
“Initially the tenant had not considered the Dandenong South area as it was beyond the distance they were prepared to be away from the CBD. However, CBRE were able to demonstrate that not only did the building have the majority of features that they required, but given the superior FYW access the travel time from the city was going to be similar to their existing site, even though the distance was significantly further.”
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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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.