Pre-completion lease deal locked in for bespoke industrial facility

Fiberglass manufacturer Tricomposite has secured a long-term lease at a newly developed industrial facility in Melbourne’s west, in a deal that underscores the ongoing strength of the city’s logistics and manufacturing sector.

CBRE’s Harry Kalaitzis, Tom Murphy and Fergus Pragnell brokered the lease of the 6,090 sqm warehouse at 33 Rhine Road, Truganina.

Developed by Yale Investments, and located within the Melbourne Business Park, the facility was leased prior to practical completion with no vacancy period at a rate of $165 per sqm. The landlord is Yale Investments.

Mr Kalaitzis noted the property was tailored to meet Tricomposite’s high-power and operational requirements which reflects broader trends in the industrial sector, where occupiers are increasingly seeking bespoke facilities that can accommodate advanced manufacturing and automation requirements.

“Tricomposite ran a thorough procurement process via consultant John Gazis of Collins Commercial and was attracted by the efficiencies the property offered with its excellent design and ability to access additional power for their operational needs,” Mr Kalaitzis said.