This article is from the Australian Property Journal archive
Australian food manufacturing giant Riviana Foods has signed a 10,000 sqm pre-lease at Caribbean Business Park in Melbourne’s eastern suburb Scoresby.
Riviana Foods will occupy a 9000 sqm warehouse and 1000 sqm of office on a 10 year lease at a very competitive rental valuing the building at around $11 million.
The building will be used as the Victorian major warehouse operation and will service Riviana’s nearby manufacturing facility in Kelletts Road, Rowville.
The deal was introduced by Jones Lang LaSalle industrial director Andrew O’Connell and was negotiated directly with Ben Spooner of Caribbean Business Park.
O’Connell said the lease was driven largely by the estate’s prestige occupiers and location next to the new Mitcham Frankston Tollway and was convenient for its staff and customer base.
He added the deal had occurred in a rising prelease market that was being pushed along by a lack of existing buildings in the Knox Market place.
“With recently completed expansion and refurbishment works for Cummins and Paperlinx and the newly completed Kincrome facility, Carribean Business Park continues to set the benchmark as the leader for Commercial Industrial business Parks in Australia,” O’Connell said.
Meanwhile, closer to the CBD, National Foods is continuing to shop around for a 10,000 sqm home, which is likely to be at Melbourne’s Docklands.
By Adam Parsons
