Equipment solutions company, Vermeer, has relocated its Sydney operations to Eastern Creek after signing a 10-year lease on a purpose-built facility.
Located at Lot 22, Eastern Creek Drive, the warehouse-showroom site spans 11,020sqm with a building area of 4,175sqm.
CBRE’s Elijah Shakir and Jason Edge negotiated the transaction on behalf of FIFE Capital. The rental was struck at a rate of $745,000 per annum net.
“We were tasked with sourcing a suitable site for Vermeer to deliver a purpose-built facility that was also near to its previous warehouse in Erskine Park. Typically, Western Sydney is considered a challenging market for the style of warehouse that Vermeer required – one with low site coverage and high showroom component,” Mr Shakir said.
“We ran through several development channels and investigated a number of existing facilities to ensure the market was covered. We were able to find a suitable solution by fostering a partnership with FIFE Capital, as it has developed several similar facilities in Western Sydney and could meet Vermeer’s requirements at the Eastern Creek site.”
The delivered product comprises a high-span showroom, air conditioned amenities and a 10-tonne gantry crane spanning the length of the warehouse.
Located at Lot 22, Eastern Creek Drive, the warehouse-showroom site spans 11,020sqm with a building area of 4,175sqm.
CBRE’s Elijah Shakir and Jason Edge negotiated the transaction on behalf of FIFE Capital. The rental was struck at a rate of $745,000 per annum net.
“We were tasked with sourcing a suitable site for Vermeer to deliver a purpose-built facility that was also near to its previous warehouse in Erskine Park. Typically, Western Sydney is considered a challenging market for the style of warehouse that Vermeer required – one with low site coverage and high showroom component,” Mr Shakir said.
“We ran through several development channels and investigated a number of existing facilities to ensure the market was covered. We were able to find a suitable solution by fostering a partnership with FIFE Capital, as it has developed several similar facilities in Western Sydney and could meet Vermeer’s requirements at the Eastern Creek site.”
The delivered product comprises a high-span showroom, air conditioned amenities and a 10-tonne gantry crane spanning the length of the warehouse.
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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 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 480 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: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 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 480 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.