Brisbane

Lease deals highlight strong demand for South Brisbane office space

Mapletree Investments has capitalised on demand for high quality city fringe office space by finalising two South Brisbane lease deals totaling more than 6,000sqm.

25 Oct 2019

Mapletree Investments has capitalised on demand for high quality city fringe office space by finalising two South Brisbane lease deals totaling more than 6,000sqm.

Dialog Information Technology and the Queensland Building and Construction Commission (QBCC) have both committed to Mapletree’s 144 Montague Road office complex in transactions negotiated by CBRE’s Michael Skarparis and Mel Pikos.

Both tenants were existing South Brisbane occupiers who have relocated to 144 Montague Road to improve workplace efficiencies and drive future growth.

“144 Montague’s key point of difference is its large floor plates, which range upwards in size from 2,600sqm,” Mr Pikos said.

“This provided both occupiers with greater efficiencies, allowing Dialog to consolidate its footprint and QBCC to accommodate its recent business growth.”

Dialog Information Technology is one of Australia's leading privately-owned information technology services organisations, employing over 1,200 consultants nationwide.

The company has secured 3,322sqm of space of Level 4 space in 144 Montague Road on a 10-year direct deal and has also leased 20 on site car parks.

QBCC, Queensland's building industry regulator, has meanwhile taken 2,680sqm of space on Level 1 on a four-year direct deal in addition to taking 10 on site car parks.

An incentive was given to both tenants in the form of a contribution to fitout and rental reduction over the term of the lease.

“These tenancies presented the perfect opportunity for both occupiers to inherit exiting fitouts and then make minor alterations to suit their businesses,” Mr Skarparis said.

“The move also allowed Dialog to become more efficient with its office accommodation and consolidate its overall footprint from three floors down to one.”

Mr Skarparis noted that CBRE had leased over 9,000sqm of office space in South Brisbane over the past 12 months, amid heighted demand for quality, city fringe office acoomodation.

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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 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.

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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.