Sydney

Global medical firm secures Greystanes base

Global medical technology company Arjo will open a new facility in Sydney’s west after signing a lease deal on a facility in Greystanes.

23 May 2018

Global medical technology company Arjo will open a new facility in Sydney’s west after signing a lease deal on a facility in Greystanes. 

Located at 5/1 Foundation Place, the 4,926sqm freestanding warehouse/office facility is located within the prominent Greystanes Industrial Estate and will be used by Arjo to store medical products. 

CBRE’s Moshe Greengarten, John Micallef and John Karlovasitis negotiated the seven-year lease term for an annual rental of $127.50 per square metre net. The incentive was 10%. 

Mr Greengarten said the property was leased immediately upon vacation of the previous tenant – highlighting the demand for stock in the area. 

“Whilst the property is larger than Arjo required, a shortage of available stock in the Greystanes area underpinned the deal, with there being no other suitable options in the current market,” Mr Greengarten said. 
 
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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.

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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.