Melbourne

Dutton Wholesale inks new lease in Altona North

Luxury Car wholesaler Dutton Wholesale has inked a new five year lease on an industrial property in the inner western suburb of Altona North.

25 Sep 2019

Luxury Car wholesaler Dutton Wholesale has inked a new five year lease on an industrial property in the inner western suburb of Altona North.

CBRE’s Harry Kalaitzis, Todd Grima and Tom Hayes negotiated the lease on behalf of landlord GPT, with Tony Tripodi of CBRE’s Occupier business representing the Lessee.

The 18,815sqm property comprises two high clearance warehouses with an interconnecting canopy.

Lease rates in the inner west typically range between $75-$85 per sqm.

Located within GPT’s Citiwest Industrial Estate, the property offers excellent access to the Melbourne CBD, Port of Melbourne and Melbourne Airport and is situated in close proximity major arterial routes including the Westgate Freeway, Citylink, Princess Freeway and Western Ring Road.

Mr Kalaitzis noted; “The Western industrial market is experiencing low levels of vacancy, the determining factors in this deal were the location and exposure offered by the site.”For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.