Sydney

Orbitz Elevators inks new lease deal in Seven Hills

Orbitz Elevators has secured new premises in Seven Hills, leasing space formerly occupied by AMS Furniture.

13 Dec 2019

Orbitz Elevators has secured new premises in Seven Hills, leasing space formerly occupied by AMS Furniture.

CBRE’s Matthew Alessi and Brendan Wein negotiated the lease over the 13 Distribution Place office/warehouse, which offers a total lettable area of 1,222sm.

The lease is for five years, with a five-year option. It was struck at an initial rental of $140/sqm net + GST.

“AMS Furniture had 12 months remaining on its lease and engaged CBRE to provide advice on potential exit strategies,” Mr Alessi said.

“Securing national tenant Orbitz Elevators on a long-term lease provided significant upside for the landlord and allowed our client to surrender its lease with no penalty.”

The property offers a large concrete forecourt, allowing excellent container loading and unloading. It also includes a modern, two-level office, internal warehouse clearance of up to 8.2 metres and excellent access to the M7, M2 Motorways and major arterial roads.

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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 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.