Sydney

Office furniture specialist switches to Smithfield

Krost Furniture Group has secured space in the new Charter Hall owned and managed Woodpark Logistics Estate.

02 Mar 2020

Krost Furniture Group has secured space in the new Charter Hall owned and managed Woodpark Logistics Estate.

The office furniture manufacturer will relocate from Mascot to the new Smithfield development, 368 Woodpark Road, in the coming months on a 10-year lease.

It has taken on 8,170sqm in one of the site’s three warehouses for a net rent of $127.50/sqm.

Woodpark Logistics Estate incorporates the latest industrial and logistics design elements, with warehouses featuring clearances of up to 13.7m and roof-mounted solar arrays.

Its Smithfield location is well connected in Sydney’s outer west, near the M4 and M7 motorways. 

CBRE’s Elijah Shakir, Moshe Greengarten and Nathan Egan negotiated the lease. 

“The property was leased for a term of 10 years several months before practical completion, an ideal outcome for Charter Hall,” Mr Shakir said.

“In a trend we’re seeing across the Sydney industrial market, Krost is relocating from south Sydney to Smithfield, securing a state-of-the-art industrial facility with a substantial cost saving on rent.

“This deal highlights the strength of infill industrial markets such as Smithfield, which has benefitted from the outward shift of land supply for institutional owners.”

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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 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.