This article is from the Australian Property Journal archive
VALMONT Industries subsidiary Locker Group has expanded into a 1,403 sqm industrial facility in Brisbane’s Richlands owned by ASX-listed Propertylink.
It is believed to be paying around $100 to $105 per sqm for Building 3 of 848 Boundary Road after agreeing to terms of a deal negotiated by Ben Donnelly of Savills.
The facility has 1,046 sqm of clear-span warehouse and 357 sqm of office space, as well as multiple access doors, and follows Locker Group’s leasing of Building 4 in the complex late last year before quickly outgrowing the premises and requiring additional space.
The Building 3 lease term is aligned with the Building 4 lease expiry.
Locker Group was established in 1956 and through product expansion, acquisition and merger the company now has manufacturing facilities and offices throughout Australia, New Zealand and Asia.
Donnelly said that with banks and lending conditions tightening a continuing increase in leasing activity within the Western Corridor.
Australian Property Journal
