This article is from the Australian Property Journal archive
KUMHO Tyres Australia has signed a 12-year lease for a new state of the art office and warehouse at Dandenong South, to be developed by Elite Property Group.
Jones Lang LaSalle director of industrial services Kosta Filinis negotiated the deal.
The 10,500 sqm purpose built facility will have direct exposure to the South Gippsland Freeway and is located in the shadow of the Pound Rd interchange.
“The 12 year lease term struck between the parties was a sign of the commitment from both sides to the project, in a result that enabled both tenant and landlord to achieve their requirements.
“The deal is another outstanding result for the Dandenong South market, which continues to attract major corporations looking to be located in the South East corridor of Melbourne. The area is consistently drawing occupiers from competing markets such as Braeside, Scoreby and Rowville,” Filinis added.
The development of the Kumho facility is another coup for Elite Property Group and comes hot on the heels of similar size deals for Otter Fencing and Nails, Ascent Pharmaceuticals and Mercury Marine.
Elite Property Group managing director Leo Iazzolino said the pre-lease with Kumho Tyres represents a significant development.
“We look forward to delivering the building and adding another facility secured by an industry leader to our portfolio,” he concluded.
Property Review
