Melbourne

Growing freight company makes express move to Tullamarine

Royal Express Group signed a 10-year lease on its new space at Propertylink’s 55-65 Sky Road property, which comprises a 10,049sqm office warehouse.

09 Aug 2018

Rapidly expanding freight forwarding company, Royal Express Group, has more than doubled its footprint in the Melbourne market after relocating to a new base in Tullamarine. 

Royal Express Group signed a 10-year lease on its new space at Propertylink’s 55-65 Sky Road property, which comprises a 10,049sqm office warehouse. The group will relocate from its existing 4,000sqm property in Westmeadows. 

CBRE’s Daniel Eramo and Daniel De Sanctis negotiated the transaction on behalf of Propertylink for a rental of circa $85 per square metre (net).  

Mr Eramo commented on the transaction: “The property’s location was crucial to operation of air and sea freight forwarder businesses, with the warehouse allowing for future growth.” 

Mr Eramo went on to say vacancy rates in Melbourne’s northern industrial market remained tight, with strong demand for larger scale properties. 

“Vacancy of buildings in excess of 4,000sqm remains at below 1% of total built form – making opportunities such as this Sky Road property extremely sought after.”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 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.