CBRE’s Industrial and Logistics team has leased a 5,945sqm warehouse and office in Wetherill Park to Yamaha.
495 Victoria Road is a prominent, modern warehousing and distribution facility with multiple loading docks and on-grade roller shutter doors. Previous tenants in the building include Australia Post, Schenker and more recently, Hyundai.
Mr Shakir said the vacant asset was purchased off-market by Propertylink in mid-2017, with CBRE appointed as the exclusive agent to secure a tenant.
“We split the asset into two to secure two national tenants. The result is an uplift in rental with co-terminus lease expiries and a re-positioning of the asset to a fully leased building with a WALE of five years,” Mr Shakir said.
“Yamaha was attracted to the building due to it’s high internal clearance and its location at the favoured end of Wetherill Park close to the M7.”
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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 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.